Service
A service is an activity or performance provided to satisfy a need or want rather than the transfer of a tangible item alone. Services can accompany goods and may be delivered in person or through technology. Their characteristics differ, so not every service requires simultaneous customer presence or is impossible to standardise.
Worked example
A repair business provides diagnostic and repair work and may also supply replacement parts. The work is a service; the parts are goods used or transferred in delivering it.
Common mistake
Applying every traditional service-marketing characteristic absolutely, or assuming digital delivery turns a service into a physical good.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | BT | Supporting | September 2026–June 2027 |
| FIA | FBT | Supporting | September 2026–June 2027 |