Discuss the significant differences between goods and services
The significant differences between goods and services are as follows:
• Goods are tangible, whereas services are intangible.
• Customers participate in many service processes, activities, and transactions.
• The demand for services is more difficult to predict than the demand for goods.
• Services cannot be stored as physical inventory.
• Service management skills are paramount to a successful service encounter.
• Service facilities typically need to be in close proximity to the customer.
• Patents do not protect services.
You might also like to view...
A bank reconciliation is an analysis of the difference between the financial accounting records and the bank records to ensure the accurate ending cash balance
Indicate whether the statement is true or false
Significant influence equity investments must be accounted for using the ________ method.
A) equity B) consolidation C) discounted cash flow D) acquisition
In a SWOT analysis, which of the following would most likely be considered a strength of a company?
A) a favorable economic climate that encourages consumption B) the exit of a competitor from the market C) higher prices of the company's products resulting from inflation D) an increase in consumer interest in the company's products E) an improvement in the company's production technology
Given the following returns on Stock J and the "market" during the last three years, what is the beta coefficient of Stock J? (Hint: Think rise over run.) Year Stock J Market 1 -11.26% -7.55% 2 22.57% 12.06% 3 34.71% 19.88% ?
A. 1.66 B. 1.54 C. 1.73 D. 1.74 E. 1.85