How are services defined in marketing terms?

Services in marketing are defined as intangible products, which means they cannot be physically touched or owned in the same way tangible goods can be. This intangibility is a key characteristic that sets services apart from physical products, often leading to differences in marketing strategies and consumer expectations.

While tangible products (like food or electronics) can be seen, touched, and stored, services are experienced and consumed at the point of delivery. For instance, when you go to a restaurant, the meal you order is a tangible product, but the dining experience itself is a service.

Moreover, the aspect of intangibility often requires marketers to focus on other factors, such as the perceived quality, customer experience, and brand reputation, to communicate the value of the service effectively. This understanding helps businesses design their services offerings and marketing strategies to highlight benefits that consumers can expect, rather than just features.