Marketers of services must deal with the challenges of balancing supply and demand and planning for peak and off-peak times.What characteristic of services creates these challenges?

Question

Quizplus · Accepted Answer

Perishability refers to the fact that services cannot be stored and sold at a later time. This creates a challenge for marketers in terms of balancing supply and demand, especially during peak and off-peak times. For example, hotels may experience high demand during tourist seasons and weekends but lower demand during weekdays. Marketers must plan accordingly to ensure that they can meet demand during peak times while also minimizing the negative impact of low demand during off-peak times.

Marketers of Services Must Deal with the Challenges of Balancing