Service Sector In India
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Service Sector in India

 
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Student of MBA

Hello friends, in this blog I am going to discuss about the latest emerging field for employment in India Service Sector: -

“A service is any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to a physical product.”

- Philip Kotler

Characteristics of Goods & services:-

Characteristics

Goods

Services

Output

Tangible

Intangible

Product Uniformity

Generally Uniform Output

Variable Output

Facility Location

Near Input supply

Close to customer

Ownership

Possible

Not Possible

Customer Involvement

Low or no Involvement

High Involvement

Mechanization

Generally High

Generally Low

Producer Status

Separable from goods

Inseparable from services

Stock

Inventorable

Non-Inventorable

Customer Role

Customer as only Customer

Customer as a producer also

Return

Can be returned

Cannot be returned

Service Sector in India: -

  1. Travel & Tourism
  2. Transportation Services
  3. Couriers, Cargo, Logistics
  4. Communication and Entertainment Services
  5. Financial Services
  6. Retail Services
  7. Information Technology & Consultancy Services
  8. Hospitality Services
  9. Tele-Communication Services

Reasons for flourishing of Service Sector: -

There are immense future prospects in service sector in India.

  1. Now a days this sector is booming like anything. Because now business firms are taking customer as king.
  2. There are n-number of varieties available in market for the same goods or services, that’s why the rate of switching over from one product to another is very high.
  3. Now companies are giving their best because they want to retain their customers for a long time.
  4. Companies want to make their better services their USP.
  5. Service sector is directly concern with customers. So it is important to give the best quality to the customers to differentiate the company from others.

In conclusion I would like to say that Service sector (as mentioned above- travel & tourism, telecom, retail, financial service etc.) has a very good future in India. It is coming with new types of employment. You can easily find out this sector around you, because it is every where in so many forms.

So keep watching the growth of service sector & keep finding new jobs in this filed…

Keep reading…

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