Question

Explain the following with an example:

Service

Answer 1

Services refer to those intangible benefits, utilities and satisfactions which are offered for sale. Transportation, communication, banking, insurance, warehousing and advertising are, for example, considered services. The activities of professionals such as doctors, lawyers, chartered accountants, engineers, architects, and consultants are also services. Because services are intangible, they cannot be seen, touched, or stored for future use. Services cannot be separated from the service provider. The quality of service cannot be standardised or made uniform all the time.