MANAGEMENT

Detailed explanation-1: -Services are intangible because they can often not be seen, tasted, felt, heard, or smelled before they are purchased. A person purchasing plastic surgery cannot see the results before the purchase, and a lawyer’s client cannot anticipate the outcome of a case before the lawyer’s work is presented in court.

Detailed explanation-2: -Service Business A service type of business provides intangible products (products with no physical form). Service type firms offer professional skills, expertise, advice, and other similar products. Examples of service businesses are salons, repair shops, schools, banks, accounting firms, and law firms.

Detailed explanation-3: –A tangible feature is something that can satisfy a prospect’s identified need. Tangible features are the facts that your prospects logically use to justify their emotional decisions. They include the descriptive characteristics of your product or service and the elements of your offer, including incentives.