Service-goods Continuum
The dichotomy between physical goods and intangible services should not be given too much credence. These are not discrete categories. Most business theorists see a continuum with pure service on one terminal point and pure commodity good on the other terminal point. Most products fall between these two extremes. For example, a restaurant provides a physical good (the food), but also provides services in the form of ambience, the setting and clearing of the table, etc. And although some utilities actually deliver physical goods — like water utilities which actually deliver water — utilities are usually treated as services.
In a narrower sense, service refers to quality of customer service: the measured appropriateness of assistance and support provided to a customer. This particular usage occurs frequently in retailing.
Read more about this topic: Service (economics)
Famous quotes containing the word continuum:
“The further jazz moves away from the stark blue continuum and the collective realities of Afro-American and American life, the more it moves into academic concert-hall lifelessness, which can be replicated by any middle class showing off its music lessons.”
—Imamu Amiri Baraka (b. 1934)