Take for example IT services. The most basic definition would be services that support the daily functioning and activity of any business but is not a commodity. The first type of service is business services. Essentially, the main focus for what a company does in a particular sector or industry is known as that company’s nature of business. Features of Services – Top 8 Features: Intangibility, Heterogeneity, Simultaneity, Quality Measurement, Nature of Demand and a Few More Services have some salient features which necessitate a new vision, a distinct approach and a world-class professional excellence to market effectively and profitably. These are the types of business services which are used by many organizations irrespective of industry. Heterogeneity of Services Heterogeneity reflects the potential for high variability in service delivery (Zeithaml et al 1985). Consultations are an integral part of corporate giants like Accenture who provide services to almost every industry.. This is a particular problem for services with a high labour content, as the service performance is delivered by different people and the performance of … Intangibility: Services cannot generally be seen, tasted, felt, heard or smelt before being bought. 1] Business Services. 6. Consulting services can be for financial projects, business expansion projects or for a particular sector of business. In this day and age, every business will require technological setup. A Doctor can charge much higher fee to a rich client and take much low from a poor patient. Heterogeneity: The features of service by a provider cannot be uniform or standardised. Pricing of Services: Pricing decision about services are influenced by perishability, fluctuation in demand and inseparability. The nature of business refers to the overall activities of a company in their quest to create, market, and sell a service or a product. 1. Lets understand the definition and characteristics of services in detail. Due to the increasing importance and share of the service sector in the economies of most developed and developing countries the world economy is characterized as a service economy. The gap model of service quality would suggest that a gap exists between: a. the service quality specifications and the service that is actually provided b. what the company provides and what the customer is told it provides c. the service customers receive and the service they want d. what customers want and what management thinks customers want The potential customer is unable to perceive the service before (and sometimes during and after) the […] ADVERTISEMENTS: Six key distinguishing characteristics of services are as follows: a. Intangibility b. Inseparability c. Variability d. Perishability e. Heterogeneity f. Lack of Ownership.

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