Service
Service is any act, performance or experience that one party can offer to another. The process would or would not tie with the physical product but there is no ownership involved. "Services are economics activities that provide time, place, form utility, problem-solving while bringing about a change in, or for, the recipient of the service." Services deliver the intangible value like knowledge, utility or care, convenience to the party who need it. (Lovelock, 2004) The service sector is actually leading any country's economic growth, especially in the developed countries (it contributed 70% to 80% of the GDP).(Agrawal 2007) It requires least amount of cost because the physical materials often not an important issue when setting up the services business. However, the profit it brought is relatively higher than the goods selling.
Every customer likes to be treated well and caring as they think they deserved it after the payment. Services enable the similar products to be......
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