Goods are physical, tangible products that can be seen and touched. They are standardized, produced separately from consumption, and non-perishable. Services are intangible activities performed for someone else's benefit. They involve performance that is simultaneous to production and consumption and are perishable. The key differences between goods and services are that goods are tangible and can be inventoried, displayed, and returned while services are intangible performances that cannot be inventoried, displayed, or returned. Both goods and services work to meet customer wants and needs.

1. Presented by:
Ritiesha H R
MBA 2nd semester
St. Hopkins college

2. Meaning of Goods and Services
 Goods
Goods are items that can be seen and
touched, such as books, pens and cloths etc...
Goods are physical products with form
and substances used by consumers for their
satisfaction.

3. Goods
tangible Standardized
Production
separate from
consumption
Non
perishable

4.  Services
Services are provided by other people
such as Doctors, Dentists, barbers and teachers
etc....
Services are non-physical products
usually involving performance. It is an activity
performed for the benefit of someone else.

5. Services
intangibility heterogeneity
Simultaneous
production
and
consumption
Perish ability

6. Goods and Services
Goods services

7. Difference between Goods and
Services
Goods Services
Tangible Intangible
Standardized Heterogeneous
Production separate from consumption Simultaneous production and
consumption
Non perishable Perishable

8. Goods Services
Goods can be inventoried Services cannot be inventoried
Can be patented Cannot be patented
Can be readily displayed Cannot be readily displayed
Pricing is easy Pricing is difficult
Mass production is easy Mass production is difficult
Goods can be returned or resold Services cannot be returned or resold
It is easy to synchronize supply and
demand
It is difficult to synchronize supply and
demand

9. An idea, a physical entity, a service or any combination
of the three that is an element of exchange to satisfy
individual or business objectives.
Goods and Services are the outcome of human efforts
to meet the wants and needs of customers.