Services are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. Examples include banking, hotel services. Airline travel, retail, wireless communication, and home repair services.

Services are a form of output which consists of a function performed for one person by another –such as cooking and serving a meal, teaching a lecture, completing a telephone call, or delivering a package. Distinct from goods.

In business, intangible products that cannot be physically possessed and that involve performance or effort; examples include teaching, nursing, air travel, tailoring, accounting, and the opera. In employee compensation, indirect compensation in the form of programs, facilities, or activities supplied by employers for employees use.

Share it:  Cite

More from this Section