Essay on Marketing
SERVICES IN THE MODERN ECONOMY
As consumers, we use services every day. Turning on a light, watching TV, talking on the telephone, riding a bus, visiting the dentist, mailing a letter, getting a haircut, refueling a car, writing a check, or sending clothes to the cleaners are all examples of service consumption at the individual level. T h e institution at which you are studying is itself a c o m p l e x service organization. In addition to educational services, today's college facilities usually include libraries and cafeterias, counseling, a bookstore, placement offices, copy services, telecommunications, and even a bank. If you are enrolled at a residential university, campus services are also …show more content…
What Is a Service?
Because of their diversity, services have traditionally been difficult to define. T h e way in which services are created and delivered to customers is often hard to grasp since many inputs and outputs are intangible. Most people have little difficulty defining manufacturing or agriculture, but defining service can elude them. Here are two approaches that capture the essence of the word. *- A service is an act or performance offered by one party to another. Although the process may be tied to a physical product, the performance is essentially intangible and does not normally result in ownership of any of the factors of production. >- Services are economic activities that create value and provide benefits for customers at specific times and places, as a result of bringing about a desired change in—or on behalf of-—the recipient of the service. More humorously,