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Basis Goods Services Meaning Goods is a physical product which can be delivered to a buyer and involves the ownership from seller to customer, Services are those separately identifiable, essentially intangible activities which provide satisfaction of wants, and are not necessarily linked to the sale of a product or another service. Nature A physical object An activity or process. Intangibility It is tangible like books. It is intangible. For example; teaching by a teacher. Inconsistency Homogeneous. Heterogeneous. Inseparability It can be separated from its owner. It can't be separated from its owner. Inventory It has inventory It has no inventory. Involvement Participation of customers is not there in production. For example, manufacturing a car. Participation of customers is there. For example, transportation is not possible unless the person who has to go is involved.
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