Meaning and Characteristics of Services vs. Products

An act or performance offered by one party to another.

Deeds, processes, and performances that are intangible.

Activities of more or less intangible nature provided as solutions to customer problems.

<p>Services are essentially intangible acts or performances, while products are tangible.</p> Signup and view all the answers

<p>Banks, telecommunications, hotels, restaurants, and beauty salons.</p> Signup and view all the answers

<p>Service is a strategic tool for companies' efforts in gaining competitive advantage.</p> Signup and view all the answers