2. Business refers to
an occupation in
which people are
regularly engage in
activities related to
purchase,
production and / or
sale of goods and
services with a view
of earning profits..

3. Services are all those
economic activities that
are intangible and imply
an interaction to be
realized between the
service provider and the
consumer.
They are those
essentially intangible
activities that provide
satisfaction of wants.

5. NATURE OF
SERVICES
INTANGIBILITY
INCONSISTENCY
INVOLVEMENT
INSEPARABILITY
INVENTORY

6. Services are
intangible
i.e. they
cannot be
touched.
It is important
for the service
providers on
creating a
desired service
for the
customers.
An important
implication of this is
that quality of the offer
can often not be
determined before
consumption and
therefore, purchase.
For exampletreatment by a
doctor should be
a favorable
experience.

7. Since there is no
standard tangible
product, services have
to be performed
exclusively each time .
Different customers
have different demands
and expectations.
Service providers need to
have an opportunity to
alter their offer to closely
meet the requirements of
the customers. For
example-mobile services.

8. Another important
characteristic of services is
the simultaneous activity
of production and
consumption being
performed.
This makes the production
and consumption of
services seem to be
inseparable
For example- ATMS may
replace the banking clerk
for the front office activities
like cash withdrawl and
cheque deposit.

9. Services have little or no tangible
components and, therefore cannot be
stored for a future use. This means
services are perishable and providers
can store the goods but not the
service itself.
For example- a railway ticket can be
stored but the railway journey will be
experienced only when the railways
provides it.

10. Participation of the
customer in the service
delivery process is an
important characteristics.
A customer has the
opportunity to get the
services modified
according to specific
requirements.

11. 


BUSINESS SERVICES
SOCIAL SERVICES
PERSONAL SERVICES

12. Services which are
used by business
enterprises for the
conduct of their
activities. For
example,banking,insu
rance,transportation,
warehousing and
communication
services.

13. Social services are those
services that are
generally voluntary in
pursuit of certain social
goals.
These can be to improve
the weaker sections of
the society. For
example- health care
and education services
provided by the NGO’S
and other govt. agencies.

14. Personal services are those
services which are experienced
differently by different
customers.
These services cannot be
consistent in nature.
They will also depend upon
customer’s
Preferences and demands.
For exampletourism, spas, recreational
services