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In: Accounting

Respond with at least 200 words. Identify the differences between service and merchandising companies.

Respond with at least 200 words.

Identify the differences between service and merchandising companies.

Solutions

Expert Solution

Service company is a company that deals in intangible products for example, knowledge, data, design, management, advice, experiences. Service industry common examples are :

IT industry is shifting from providing package as a service to software as a service.


Hospitality Industry includes services of Hotels, Guesthouse, Restaurant, Pub etc

Travel and Transport industry includes services like tourism, flights, buses etc

Insurance services include life insurance, term insurance, medical insurance, reinsurance etc

Professional services like doctor, accountant, lawyer etc

Financial services like providing loans, deposit, investment advice, maintaining bank account.

Design services like product designing, graphic designing, etc

Merchandising companies are those companies which sells merchandise. It deals in physical products unlike service industry.It is mainly a retail industry. Merchandisers purchase in large quantities from manufacturers and resell them in small quantities to customers.

Examples:-

Grocery merchandising . In it grocery products in grocery store is promoted and sold. It makes display of products attractive to influence the decision of consumers.

Technology merchandising. In this merchandising companies like Apple etc promote and sale their their products. Products include smartphones, note book, laptop. It conveys the benefits of the products to consumers, while also creating a brand in the eyes of customers.

Toy merchandising involves sale and promotion of toys in the eyes of children's and simultaneously creating acceptance in parents eyes too.

ekkarill92 answered 11 months ago
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