Service providers participate in an economy without the restrictions of carrying inventory or the need to concern themselves with bulky raw materials. Furthermore, their investment in expertise does require consistent service marketing.
Service such as labor is performed the buyer does not take exclusive ownership of that, unless agreed upon by buyer and seller. The benefits of such a service are held to be self-evident in the buyer’s willingness to pay for it.
One of the most important characteristics of services is the participation of the customer in the service delivery process. A customer has the opportunity to get the services modified according to specific requirement.
Brands are used in business, marketing, and advertising. Branding remains the last bastion for differentiation of products.
Branding is a set of marketing and communication methods that help to distinguish a company.
Many companies are beginning to understand that there is often little to differentiate between products in the 21st century.