An intangible product such as bus rides, library facilities, theatre shows, insurance policies and haircuts is called?

An intangible product such as bus rides, library facilities, theatre shows, insurance policies and haircuts is called?

• A. Goods
• B. The seven Ps model
• C. Through the line (TTL) promotion
• D. A service

Answer: (D)

Intangible products are things you can’t touch or own as physical objects. The items listed—bus rides, library facilities, theatre shows, insurance policies, and haircuts—are experiences or processes delivered to you rather than physical goods you keep. That makes them services. In marketing, services are defined by this intangibility (and often by being produced and consumed at the same time, with variability and perishability). So the best label for these items is a service, not a tangible good, a promotion type, or a planning framework.

Intangible products are things you can’t touch or own as physical objects. The items listed—bus rides, library facilities, theatre shows, insurance policies, and haircuts—are experiences or processes delivered to you rather than physical goods you keep. That makes them services. In marketing, services are defined by this intangibility (and often by being produced and consumed at the same time, with variability and perishability). So the best label for these items is a service, not a tangible good, a promotion type, or a planning framework.