Business – 3.3 The marketing mix – Product | e-Consult

The intangible nature of services means that companies rely heavily on people and processes to convey quality, so training staff and standardising service delivery are crucial. In contrast, for goods, product design and physical evidence (packaging, branding) play a larger role. Pricing strategies also differ: services often use price bundling or time‑based rates to manage perishability, whereas goods can use discounting and inventory‑based pricing. Promotion for services emphasises testimonials and guarantees to reduce perceived risk, while goods can focus on features and visual advertising.