Goods vs Services Flashcard

Front

What is the primary difference between goods and services?

Back

Goods can be owned, while services cannot.

Front

Which of the following is an example of a good? Haircut, Gym membership, Smartphone, Consulting session

Back

Smartphone

Front

Which characteristic applies to services but not to goods? Options: Can be stored for future use, Requires customer presence during production, Easy to evaluate quality, Produced before consumption

Back

Requires customer presence during production

Front

What is a common challenge in marketing services?

Back

Standardizing quality across providers

Front

Which marketing focus is most important for services?

Back

Establishing trust and relationships

Front

What does intangibility mean in the context of services?

Back

Services cannot be touched or physically owned.

Front

Which of the following is an example of overcoming the challenge of perishability in services? Options: Offering discounts for off-peak times, Selling additional features, Using automated production lines, Improving the durability of a product

Back

Offering discounts for off-peak times

Front

Which of the following is NOT a characteristic of goods? Tangible, Can be stored, Quality is consistent, Produced and consumed simultaneously

Back

Produced and consumed simultaneously

Front

Which of the following best describes a Netflix subscription? A tangible good, An intangible service, A combination of goods and services, A durable good

Back

An intangible service

Front

Why is it harder to market services compared to goods?

Back

Services require customer presence and trust.