goods and services
TRANSCRIPT
Difference between Goods and Services
Presented by:Ritiesha H RMBA 2nd semesterSt. Hopkins college
Meaning of Goods and Services Goods Goods are items that can be
seen and touched, such as books, pens and cloths etc...
Goods are physical products with form and substances used by consumers for their satisfaction.
Goods
tangibleStandardiz
ed
Production separate
from consumptio
n
Non perishable
Services Services are provided by
other people such as Doctors, Dentists, barbers and teachers etc....
Services are non-physical products usually involving performance. It is an activity performed for the benefit of someone else.
Services
intangibility
heterogeneity
Simultaneous production
and consumption
Perish ability
Goods and Services Goods services
Difference between Goods and Services
Goods Services
Tangible Intangible
Standardized Heterogeneous
Production separate from consumption
Simultaneous production and consumption
Non perishable Perishable
Goods Services
Goods can be inventoried Services cannot be inventoried
Can be patented Cannot be patented
Can be readily displayed Cannot be readily displayed
Pricing is easy Pricing is difficult
Mass production is easy Mass production is difficult
Goods can be returned or resold Services cannot be returned or resold
It is easy to synchronize supply and demand
It is difficult to synchronize supply and demand
Conclusion An idea, a physical entity, a service or any
combination of the three that is an element of exchange to satisfy individual or business
objectives.
Goods and Services are the outcome of human efforts to meet the wants and needs of
customers.
Thank you !