Difference Between Goods and Services
OPERATIONS MANAGEMENT
Assignment 1
PRODUCTS, THEIR TYPES AND DIFFERENCIATION
Submitted to: Mr. Tahir Aziz Khan
Prepared by: Muhammad Adeel Khan
CIIT/FA09-MBA-069/LHR
Awais Ahmad
CIIT/FA09-MBA-027/LHR
Najm-ul-Hassan
CIIT/FA09-MBA-112/LHR
Sabahat Abid
CIIT/FA09-MBA-130/LHR
Ghulam Asghar
CIIT/FA09-MBA-039/LHR
Submitted on: 29th September 2010
[pic]
COMSATS Institute of Information Technology
Defense Road, Off Raiwind Road, Lahore.
PRODUCTS
Anything offered to market for the Customers in order to satisfy their Needs & Wants, is called Product. In fact, the products offered to market are called Market Offerings. They are also called Product Offerings. These products can be offered to market in a set or a bundle as well.
Types of Products
A company or an organization can offer two types of products to the customers:-
1) Goods
Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy consumer’s / customer’s need or want is called Good.
2) Services
Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything, is called Service.
Difference between Goods & Services
There are various differences between goods and services but they can be classified on the basis of the following heads:
1) On the basis of Characteristics
2) On the basis of Offering
1) On the basis of Characteristics
The goods and services, on the basis of characteristics they have, can be differentiated for
Assignment 1
PRODUCTS, THEIR TYPES AND DIFFERENCIATION
Submitted to: Mr. Tahir Aziz Khan
Prepared by: Muhammad Adeel Khan
CIIT/FA09-MBA-069/LHR
Awais Ahmad
CIIT/FA09-MBA-027/LHR
Najm-ul-Hassan
CIIT/FA09-MBA-112/LHR
Sabahat Abid
CIIT/FA09-MBA-130/LHR
Ghulam Asghar
CIIT/FA09-MBA-039/LHR
Submitted on: 29th September 2010
[pic]
COMSATS Institute of Information Technology
Defense Road, Off Raiwind Road, Lahore.
PRODUCTS
Anything offered to market for the Customers in order to satisfy their Needs & Wants, is called Product. In fact, the products offered to market are called Market Offerings. They are also called Product Offerings. These products can be offered to market in a set or a bundle as well.
Types of Products
A company or an organization can offer two types of products to the customers:-
1) Goods
Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy consumer’s / customer’s need or want is called Good.
2) Services
Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything, is called Service.
Difference between Goods & Services
There are various differences between goods and services but they can be classified on the basis of the following heads:
1) On the basis of Characteristics
2) On the basis of Offering
1) On the basis of Characteristics
The goods and services, on the basis of characteristics they have, can be differentiated for
Links: The above assignment is made by visiting the following links and taking ideas from them: http://www.differencebetween.net/business/difference-between-goods-and-services/ http://www.indiastudychannel.com/resources/59103-An-Elaboration-Difference-between-Goods.aspx http://www.scribd.com/doc/17342628/Difference-in-Goods-and-Services-wwwmanagementsourceblogspotcom ----------------------- SERVICES GOODS PRODUCTS (MARKET OFFERINGS)