Question

Write Short Note on the following:
Nature of business services

Answer 1

The following points highlight the nature of business services:
i. Intangible- Business services are intangible in nature—that is, they cannot be seen or touched but can only be experienced.
ii. Heterogeneity- Business services are heterogeneous in nature. As the person delivering the business services may differ, the kind or quality of service will also be different.
iii. Non-transferability- Because business services are non-transferable. In other words, the ownership of business services cannot be transferred from person to person.
iv. Inventory- Business services cannot be stored for future sales. They need to be provided to the service users as and when they ask for them