Examples of Services
Services refer to any activity or task that does not result in the transfer of ownership of physical goods; instead they involve providing intangible products like consulting, education, repair or telecommunications services.
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Service products cannot be transported or stored as inventory, yet their output can create five types of value: market value, Business value, returned value and relationship value.
Goods and Services
Goods and services form the cornerstone of traditional economies. Goods can be tangible items such as tangible items that can be seen, touched and felt; services are amenities or assistance provided from one person to another in exchange for payment.
Goods and services form a continuum, with pure goods at one end and pure services at the other. A product's place on this continuum determines its market positioning.
As an example, when purchasing new tires for their car and labor to install them on it, the tire itself represents both goods and services; its installation would then constitute services. Other examples could include paying for haircuts or legal advice. Even products which contain both goods and services (pens or physical books, for instance) fall under this category since when consumers acquire one good they also Secure possession of its associated service – thus shifting ownership away from seller to buyer.
Business Services
Business services make up an important segment of the economy and encompass a range of activities that help companies without providing tangible products directly, from Marketing and production to interdepartmental communications.
Businesses services encompass an array of offerings such as catering services for industry conferences or software services that enhance features or strengthen security on technological devices within an organization, as well as financial services like banking and investing.
One major distinction between goods and services is that while a person can store goods for later use, services must be consumed as they come along. Furthermore, each customer has different demands and expectations of them and therefore quality service delivery is vital to business success; since its intangible nature makes marketing services harder.
Social Services
Social services encompass an expansive category of public services that ranges from welfare and unemployment benefits, universal healthcare provision, education and job training programs and subsidized housing subsidies. Social services may be provided by governments, nongovernmental organizations or private institutions such as friendly societies.
Human services or social work professionals usually dedicate themselves to aiding specific groups of individuals, such as homeless individuals or those suffering from mental health conditions. Counselors are often necessary in helping these people regain control of their lives.
Social services help individuals become independent by connecting them with community resources they may otherwise not have access to, making a big difference to life expectancy and overall health. It is crucial that programs aimed at self-sufficiency include clinical care as well as housing, economic development and transportation services to ensure all aspects of recovery are taken care of; additionally social service providers must have strong ethical values with clear boundaries to best meet client needs.
Personal Services
Individual services offer unique capabilities and talents that cannot be duplicated, such as hiring a voice-over actor for commercials or an illustrator to design magazine covers. People offering personal services usually enter into contracts to provide them on specific dates, times and places at a set fee. Personal service providers include private chefs, assistants, drivers and concierges for businesses or consumers; beauty salons and schools of beauty culture that offer their services for a fee; bath and massage parlors; weight control centers with exercise programs as well as physical conditioning centers as well as mortuaries. In some states, such as California, if a corporation's primary activity involves providing personal services and its owner employees perform those services substantially, then that company could fall under state law as a personal service corporation.