Welcome dear students
Plus one- Business studies- Chapter 4-BUSINESS SERVICES
Leaning outcomes:
▪️The learner shall be able to acquires knowledge about business services
▪️The learner shall be able to explain the nature of business service
Services
Services are those separately identifiable, essentially intangible activities that provides satisfaction of wants, and are not necessarily linked to the sale of a product or another service.
Goods
A good is a physical product capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer.
Examples
Goods:
Purchasing ice cream from a store.
Purchasing a video cassette.Purchasing a school bus.
SERVICES:
Eating ice cream in a restaurant.
Watching a movie in a cinema hall.
Leasing a school bus from a transporter.
NATURE OF SERVICES
1. Intangibility
Services are intangible, i.e., they cannot be touched. One can only experience it.
2. Inconsistency
The needs and wants of each customer will be different. Hence, Services have to be performed exclusively each time.
3. Inseparability
Production and consumption of services are performed simultaneously. Production and consumption of services are inseparable. Example we can manufacture car today and sell it after a month; this is often not possible with Services.
4. Inventory less
Services cannot be stored for future use. They can store some associated goods but not the service itself.
5. Involvement
Participation of the customer in the service delivery process is necessary.
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