Service Sector in India
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
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Travel & Tourism
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Transportation Services
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Couriers, Cargo, Logistics
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Communication and Entertainment Services
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Financial Services
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Retail Services
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Information Technology & Consultancy Services
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Hospitality Services
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Tele-Communication Services
Reasons for flourishing of Service Sector: -
There are immense future prospects in service sector in
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Now a days this sector is booming like anything. Because now business firms are taking customer as king.
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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.
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Now companies are giving their best because they want to retain their customers for a long time.
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Companies want to make their better services their USP.
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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
So keep watching the growth of service sector & keep finding new jobs in this filed…
Keep reading…
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