What are services? Explain their distinct characteristics.

Explanation

The service sector constitutes the basic infrastructure which is necessary for the smooth flow of business activities. In the recent past, the role of service sector in the Indian economy is growing faster than agriculture and industrial sectors.
Characteristics:



1.)Intangibility :
Services are intangible, i.e., they cannot be touched. They are experimental in nature. One cannot taste a doctor’s treatment or touch entertainment. One can only experience it.

2.) Inconsistency:

The second important characteristic of services is inconsistency. Since there is no standard tangible product, services have to be performed exclusively each time.
different customers have different demands and expectations.

3.)Inseparability:

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