Sunday, January 6, 2019

Difference Between Goods And Services

Difference Between Goods And Services
The main dissimilarities or difference between goods and services can be pointed out as follows:
1. Introduction
Goods: Physical objects, products or things that can be purchased and consumed
Services: Activities, services or amenities offered or provided by one party to another party

2. Nature

Goods: They are tangible in nature. It means they can be touched, smell and picked up.
Services: They are intangible in nature. They cannot be felt, seen and picked up.

3. Ownership

Goods: Ownership of goods can be transferred to another party easily
Services: Ownership of services cannot be transferred to another party

4. Measurement

Goods: They can be measured in terms of weight and quantity
Services: They cannot be measured or weighted like physical goods

5. Preservation

Goods: Preservation or stock of goods is possible
Services: They cannot be preserved or stored for future purpose

6. Consumer Participation

Goods: No consumer participation in the manufacturing process of goods
Services: Customers are required to participate in the production process

7. Return Facility

Goods: Purchased goods can be returned
Services: Customers cannot return purchased services

8. Sample Selling

Goods: It is possible
Services: Sample selling is not possible in case of services

9. Types

Goods: They are standardized
Services: They are personalized

   
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10. Perishable

Goods: They are less perishable
Services: They are highly perishable

11. Examples

Goods: Foods, clothes, computer, mobile phone, pen, car etc. are the examples of goods.
Services: Medical check up, insurance, Internet, teaching etc. are the examples of services.

Goods Vs Services (Comparison Chart)

Basis For Difference

Goods
Services
Introduction

Physical objects or things that can be bought and consumed
Activities or amenities provided by one party to another 
Nature

Tangible
Intangible
Transfer Of Ownership

Yes
No
Measurement

Possible
Not possible
Preservation

Possible
Not possible
Consumer Participation

Not required
Required
Return Facility

Yes
No
Sample Selling

Possible
Not possible
Type

Standardized
Personalized
Perishable

Less
High
Examples

Foods, clothes, mobile etc.
Insurance, medical check up, teaching etc.

I hope this post is helpful to understand the difference between goods and services and to make comparison between them.