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  • 1. Services
  • 2. Definition
    • Services can be defined as the intangible product that can be simultaneously produced and consumed.
    • Eg doctor , chartered accountant
  • 3. Nature
    • Intangibility
    • Heterogeneity ( no two services are same )
    • Inseparability (simultaneously produced and consumed )
    • Perishability ( services cannot be stored)
    • Customer participation ( feedback )
  • 4. Service Development Process
    • Business strategy development
    • Idea generation
    • Concept development
    • Business analysis
    • Service development and testing ( contact customers or the employees on a large scale )
    • Market testing ( offered to the employees for testing of services as it is difficult to test at the market level )
    • Commercialization
    • Post evaluation