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Goods and Services and Intangible Goods

1. What characteristics define the major differences between goods and services? Provide examples to support your thinking.

2. What strategies are effective in overcoming a challenge associated with intangible goods? Describe a situation and evaluate the marketing challenges that are associated with it.

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This is a sample of an APA formatted paper with multiple reference to assist you.

Differences between Goods and Services
The main difference between goods and services is based on tangible and intangible factors (Bahl & Sherwood, 2011). Goods are generally considered objects or products that are manufactured, stored, transported, marketed and sold (Windsor, Sheth, & Manolis, 2004). Another description of goods is that "goods must be entities over which ownership rights could be established and exchanged" (Smith, [1776], 2012). Many services are produced where they are consumed, such as a haircut. One pays for the barber to utilize his tools to cut the customers hair, the customer has no ownership of the tools; they are paying for the service of the barber's skills.

Other traditional methods of categorizing goods and services include intangibility, heterogeneity, ...

Solution Summary

This response is a discussion of the differences between goods and services and a description of intangible goods and their marketing processes.

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