|Business services||Services provided by business enterprises to support their functioning and operations||Banking, warehousing|
|Social services||Services that are voluntarily offered by the business enterprises or individuals||Contributing towards various charity programmes organised by NGOs|
|Personal services||Client specific services that are provided as per the preferences and demands of different consumers
For e.g., tourism, restaurant, etc.
|For e.g., tourism, restaurant, etc.|
ii. Inseparable: Services are produced and used at the same place and at the same time. They cannot be separated from their respective providers.
iii. Inconsistent: No specific standards can be set for providing services as the provision of services vary as per the demands and expectations of the users.
iv. Customer involvement: The involvement of service users with the service providers is a prerequisite for the customers to experience the services.
v. Inventory: Unlike products, services cannot be stored for sale in the future. Services are provided as and when the customers demand them.
|Basis of Difference||Services||Goods|
|Heterogeneous v/s Homogeneous||Services are heterogeneous and vary as per the specific requirements and demands of the users.||Goods are homogeneous.|
|Separability||Services cannot be separated from their providers.||Goods can be separated from their sellers.|
|Stock compilation||Cannot be stocked for sale in the future.||Can be stocked for sale in the future.|
|Involvement of customer||Involvement of customers is necessary at the time of delivery of services.||Involvement of customers is not necessary at the time of delivery of goods.|
|Ownership||Cannot be transferred from one customer to the other.||Can be transferred from one customer to the other.|
|Supply adjustment||Supply cannot be adjusted easily according to demand.||Supply can be adjusted according to demand.|
❖ Business Services- The…
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