What is meant by service ? Mention three features of service.

1.	What is meant by service ? Mention three features of service.
Answer» A service is an act or performance offered by one party to another. They are economic activities that create value and provide benefits for customers at specific times and places as a result of bringing desired change. Intangibility: Services are activities performed by the service provider. Services cannot be seen, tasted, felt, heard or smelt before they are consumed. Inseparability: Services are typically produced and consumed simultaneously. Inseparability of production and consumption increases the importance of the quality in services. Perishability: Services are deeds, performance or act whose consumption take place simultaneously; they tend to perish me the absence of consumption. Hence, services cannot be stored. The sen ices go waste if they are not consumed simultaneously.

Answer»

A service is an act or performance offered by one party to another. They are economic activities that create value and provide benefits for customers at specific times and places as a result of bringing desired change.

Intangibility: Services are activities performed by the service provider. Services cannot be seen, tasted, felt, heard or smelt before they are consumed.

Inseparability: Services are typically produced and consumed simultaneously. Inseparability of production and consumption increases the importance of the quality in services.

Perishability: Services are deeds, performance or act whose consumption take place simultaneously; they tend to perish me the absence of consumption. Hence, services cannot be stored. The sen ices go waste if they are not consumed simultaneously.

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