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