Dry cleaning, hair styling, and hotel accommodations have intrinsic value resulting from a process, a performance, or an occurrence that only exists while it is being created. Which characteristic of services is being referred to here?

Question

Quizplus · Accepted Answer

Intangibility refers to the characteristic of services that cannot be seen, touched, or made tangible in any way before they are bought and consumed. Dry cleaning, hair styling, and hotel accommodations are examples of services that are intangible, as their value is realized through the process or experience rather than a physical product.

Dry Cleaning, Hair Styling, and Hotel Accommodations Have Intrinsic Value