Characteristics of Business Services
The basic characteristics of business services include:
1. Intangibility: Business services do not include any production of physical products and are supporting activities. These services do not have any physical form; i.e., they can not be touched or seen. Instead, they are experienced through interactions, expertise, and knowledge.
2. Involvement: Customers often play a role in the service delivery process, and their satisfaction can be influenced by their level of participation and communication with the service provider.
3. Inseparability: Services are often produced and consumed simultaneously. The provider and the customer interact during the service delivery process, which can influence the quality of the service experience.
4. Inconsistency: Services are to be used frequently every time. Services do not have consistency and they have to be done exclusively each time.
5. Inventory: Business services can not be stocked or preserved in warehouses. They can not be saved to be used at a future date. The major difference between goods and services lies in inventory only, that goods can be stored but services can not.
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