Characteristics of service and manufacturing businesses Flashcards

1
Q

Tangible Vs Intangible

A

Manufacturing businesses usually produce a good that is tangible and can be physically touched and moved. Service businesses usually produce a service which is intangible and can’t be touched or moved

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Production and Consumption

A

Manufacturing businesses usually have different times and places of production and consumption. Service Businesses usually have a simultaneous production and consumption time and location

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Storage

A

Manufacturing businesses can store their products to be consumed at a later date. Service businesses cannot store a service to be consumed at a later date

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Customised Vs Standardised

A

Manufacturing businesses usually standardise the products that they produce and give each customer a similar product. Service businesses usually have to customise their service to the individual’s needs.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly