Difference between Goods and Services.

Goods and Services both are used to satisfy the needs of a consumer. But it doesn't mean that they are same. Their are a huge a difference between these two.

SERVICE

GOODS

• Goods are tangible in nature whereas Services are intangible in nature. So, we can say that services can not be inventoried, patented, displayed and communication. Pricing for services is also difficult.
• Goods are standardized whereas Services are heterogeneous. So, we can say that employee actions is responsible for Service delivery and customer satisfaction. Service quality depends on many uncontrollable factors. It is not sure that what we have planned will matches with the service delivered.
• Production of goods are separate from Consumption whereas Production and Consumption is simultaneous in case of Service. So, we can say that the transaction is mainly affected by customer participating in and they also affect each others. Service outcome is mainly affected by employees.
• Goods are perishable in whereas Services are non-perishable. We can say that it is difficult to synchronize demand and supply in case of service and services can not be returned or resold.