"Service includes all economic activities whose output is not a physical product or construction, is generally consumed at the time it is produced & provide added value".
Categories of Services
Service Industries & Companies: All those companies whose core product is service. For example- Hotels, Airways, LIC etc.
Services as Products: Those intangible product offerings that customers value and pay for in the marketplace. For example- IT consultancy services, departmental store services.
Customer Service: The support services provided with the core product by the company is termed as customer service. For example- Services provided on phone, Internet or in person at no extra charge. (BPOs)
Derived service: Charged support service like maintenance and repairs.
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