There is a marked difference between goods and services, evident through their distinct features. Goods refer to tangible items that can be touched, demonstrated, traded, or exchanged. They are material in nature and can be stored. Examples include food, books, furniture, household appliances, and industrial objects.
On the other hand, services pertaining to intangible experiences such as hotel and hospitality services, legal and medical advice, banking and insurance services, health and fitness regimes, transport facilities, and communication services. These services cannot be stored and necessitate additional personnel for their delivery. They evoke feelings of happiness, relaxation, fulfilment, and assistance.
|Point of Difference||Goods/Products||Services|
|Perishability||As the goods are firstly manufactured, then|
supplied, sold, and used, their identity is distinct from the producer.
|It is not possible to store these services. They occur only when availed.|
|Inseparability||The inconsistency in the quality of the goods comes on the part of the manufacturer. It is the manufacturer, who can ensure consistency of the quality; for any sort of divergence from the standard form, the manufacturer is to be blamed.||It is difficult to separate these services from the provider. A lot of variation can be seen in these services in terms of quality, delivery time, results, etc.|
|Inconsistency||The purchasing of goods is acquiring a material item. For example, buying a music system or a mobile phone.||There is a lot of variation in the services. The variation in quality comes on the basis of the service provider, time, and place of delivery.|
|Tangibility||When the goods are ordered by phone, website, or email, the delivery time has to be decided as per the preference of the customer. On buying the goods from a retail store, the customers can purchase the goods, and can walk out with the desired items.||Purchasing a service is acquiring an intangible experience. For example, beauty services by a saloon.|
|Reliable||The quality of goods is more important than the dependence or reliability of the dealer.||Reliability and dependence play significant roles in services.|
|Time-intensiveness||Time has to be spent only on manufacturing goods. Once the goods are produced, they can be marketed repeatedly without spending more time.||Services are time-|
consuming activities. It is not possible to provide services without investing time.
|Delivery Time||The time of delivery of the services should be as per the will of the customer, though the delivery time may vary. The major difficulty standing in front of marketing executives is convincing the customers that quality services would be delivered within the specified time period.||Several times goods are purchased in a range of impulses. For example, a fascinating dress can allure ladies to buy it irrespective of whether they need it or not.|
|Desires and Requirements||It is not possible to purchase the services in an impulsive manner. Prior planning and thoughtful analysis occur before purchasing the services. For example, a house cleaning service provider can do marketing of the services by offering options like ‘delivery time as per your convenience’.||Marketing of goods needs the 4 P’s of the marketing mix, which are Product, Place, Price, and Promotion.|
|Associations||The marketing of the goods is less dependent on establishing a relationship with the customers.||The trading of services comes out of establishing a relationship with the clients.|
|Exchange||It is possible to exchange the purchased goods.||It is not possible to exchange services.|
|Elements||Marketing of goods needs the 4 P’s of the marketing mix, which are Product, Place, Price, and Promotion.||When the goods are ordered by phone, website, or email, the delivery time has to be decided as per the preference of the customer. On buying the goods from a retail store, the customers can purchase the goods and can walk out with the desired items.|