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Intangibility refers to the lack of palpable or tactile property making it difficult to assess service quality. [1] [2] [3] According to Zeithaml et al. (1985, p. 33), “Because services are performances, rather than objects, they cannot be seen, felt, tasted, or touched in the same manner in which goods can be sensed.” [4] As a result, intangibility has historically been seen as the most ...
Intangible assets are typically expensed according to their respective life expectancy. [2] [7] Intangible assets have either an identifiable or an indefinite useful life. Intangible assets with identifiable useful lives are amortized on a straight-line basis over their economic or legal life, [10] whichever is shorter. Examples of intangible ...
A restaurant waiter is an example of a service-related occupation. A service is an act or use for which a consumer, company, or government is willing to pay. [1] Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on.
For example, a restaurant provides a physical good (prepared food), but also provides services in the form of ambience, the setting and clearing of the table, etc. Although some utilities, such as electricity and communications service providers, exclusively provide services, other utilities deliver physical goods, such as water utilities.
Service providers face obstacles selling services that goods-sellers rarely face. Services are intangible, making it difficult for potential customers to understand what they will receive and what value it will hold for them. Indeed, some, such as consultants and providers of investment services, offer no guarantees of the value for the price paid.
Operations management for services has the functional responsibility for producing the services of an organization and providing them directly to its customers. [1]: 6–7 It specifically deals with decisions required by operations managers for simultaneous production and consumption of an intangible product. These decisions concern the process ...
A combination of a primary product with additional goods and services defines the total product to the customer. [1] In other words, a CBP is a combination of services and goods that adds value to the primary product acquired by the customer. The primary product is the "core" offering that attracts customers and satisfies their basic needs ...
A tangible good like an apple differs from an intangible good like information due to the impossibility of a person to physically hold the latter, whereas the former occupies physical space. Intangible goods differ from services in that final (intangible) goods are transferable and can be traded, whereas a service cannot.