Question

Mention the main features of services.

Mention two features of services.

Examine the various features of services.

Answer 1

1. Intangibility: Services are intangible, meaning they cannot be seen, touched, tasted, or felt before purchase. They lack physical shape. For example, the services of a doctor or a teacher cannot be physically examined before they are rendered.
2. Perishability: Services cannot be stored for later use. They are consumed in the same instant they are produced. For example, an unsold seat on a flight.
3. Inseparability: Services are produced and consumed concurrently. For example, when you take a taxi, the driver must be there.
4. Variability: Services are rarely standardised. Service quality varies by provider. For example, two haircuts from the same barber may not be similar.
5. No Ownership: When a customer buys a service, the benefit of the service is obtained; no ownership is transferred. For example, a hotel visitor is granted the right to use the room but does not own it.
6. Heterogeneity: Services, unlike products, are heterogeneous in nature due to their wide range.