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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.
Business services are a recognisable subset of economic services, and share their characteristics. The essential difference is that businesses are concerned about the building of service systems in order to deliver value to their customers and to act in the roles of service provider and service consumer.
Throughout the 1980s and 1990s, the so-called unique characteristics of services dominated much of the literature. The four most commonly cited characteristics of services are: [21] Intangibility – services lack physical form; they do not interact with any of our senses in a conventional way, they cannot be touched or held.
Goods can be returned while a service, once delivered cannot. [4] Goods are not always tangible and may be virtual e.g. a book may be paper or electronic. Marketing theory makes use of the service-goods continuum as an important concept [5] which "enables marketers to see the relative goods/services composition of total products". [6]
An example of service-product bundle characteristics follows: [4]: 18–19 Service Facility: Accessible by public transportation, sufficient parking, interior decorating, architecture, facility layout and traffic flow; Facilitating goods: sufficient inventory, quality and selection
Services constitute over 50% of GDP in low income countries and as their economies continue to develop, the importance of services in the economy continues to grow. [2] The service economy is also key to growth, for instance it accounted for 47% of economic growth in sub-Saharan Africa over the period 2000–2005 (industry contributed 37% and agriculture 16% in the same period). [2]
Other key characteristics of services include perishability, intangibility and variability (or heterogeneity). [ 2 ] Although the notion of inseparability has become received wisdom in the marketing and services marketing literature over the past few decades, [ 3 ] more recent research has challenged inseparability as a distinguishing ...
Perishability is used in marketing to describe the way in which service capacity cannot be stored for sale in the future. It is a key concept of services marketing. [1] Other key characteristics of services include intangibility, inseparability, fluctuating demand, pricing of services, heterogeneity and variability.