Goods and services

1. Difference between Goods and Services Presented by: Ritiesha H R MBA 2 nd semester St. Hopkins college

2. 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.

3. Goods

4. 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.

5. Services

6. Goods and Services Goods services

7. Difference between Goods and Services Goods Services Tangible Intangible Standardized Heterogeneous Production separate from consumption Simultaneous production and consumption Non perishable Perishable

8. 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

9. 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.

10. Thank you !