SEL4 - Product Service & Sector Knowledge Part 6 of 7 - What makes up a service-SEL4---Product-Service--Sector-Knowledge-Part-6-of-7---What-makes-up-a-service

SEL4---Product-Service--Sector-Knowledge-Part-6-of-7---What-makes-up-a-service

Video Transcription

Video Summary

Services differ from physical products because they cannot be touched, owned, stored, or reused, and their quality can vary with each delivery and customer involvement. This makes services harder to evaluate, especially for business buyers. Services may enhance products, like car maintenance, or stand alone, like healthcare. Service quality is often judged by five dimensions: reliability, tangibles, responsiveness, assurance, and empathy. Good providers keep promises, present consistent physical cues, respond promptly, inspire confidence, and treat customers as individuals. Because service experiences are risky and variable, companies must manage expectations and often offer guarantees or compensation.

Keywords

service quality

intangibility

customer involvement

reliability

service guarantees