Question

Ms. Sheena, a graduate in Human Relations with ten years of experience in the Corporate sector, plans to set up her start-up. She wants to set up a Soft Skills Training Academy to train and equip fresh graduates to be industry ready. Explain any four features of the type of product that Ms. Sheena is planning to offer.

Answer 1

Type of Product is Service.

Features of a Service:

• Intangibility: Services cannot be seen or touched. The training Ms. Sheena offers cannot be physically handled. It is experienced by the learner.
• Inseparability: The service is produced and consumed simultaneously. The trainer (Ms. Sheena or her staff) must be present to deliver the service to the trainees.
• Variability (Heterogeneity): Services differ from person to person. Each training session may vary based on the trainer’s style, participants, and delivery method.
• Perishability: Services cannot be stored or inventoried. If a training session is scheduled and no one attends, that time and opportunity is lost.
• Human element: Services like training heavily depend on human skills, personality, and communication. Ms. Sheena’s corporate experience adds value to the service.