GENERAL KNOWLEDGE

Detailed explanation-1: -Goods are dominated by credence and experience qualities, and services are mostly comprised of experience and search qualities.

Detailed explanation-2: -What does good variability consists of? The customization and tailoring of the service delivery for the customer’s unique needs. Services are said to be less variable than products. A “product” is the general term used to describe both goods and services.

Detailed explanation-3: -The word product can only be defined as a general term that includes services and goods. Marketing is an exchange: the company offers something (e.g., a flight), and the customer offers something in return (e.g., a payment).

Detailed explanation-4: -Search qualities are the attributes that may be evaluated prior to purchase, as the customer learns about the competitive offerings. For example, when you go to a department store to purchase socks, you can just look at a pair and know before buying them whether you’ll like them.