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What Does It Mean When We Say Services Are Intangible

question 179

Essay

What does it mean when we say services are intangible? How do marketers of services overcome the problems associated with intangibility?


Definitions:

Market Development

A strategic business growth technique that involves selling existing products in new markets or new geographical areas.

Existing Products

Goods or services that are currently available to consumers from a business.

Value Delivery Network

The collaboration between a company, its suppliers, and its distributors to produce and deliver products to the final customer efficiently.

Socio-cultural Factors

Elements that influence one's lifestyle and preferences, including family, education, religion, and social class, which marketers use to segment and target audiences.

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