What is a key characteristic of services compared to manufactured goods?

A key characteristic of services compared to manufactured goods is that services are not physical objects. Unlike manufactured goods, which can be touched, stored, and inventoried, services are intangible. This intangibility means that services cannot be seen or owned in the same way as physical products. For example, when you hire a consultant, attend a concert, or get a haircut, you are benefiting from an experience or action rather than a tangible item. This characteristic significantly impacts how services are marketed and delivered, as it emphasizes the importance of personal interaction, customer experience, and the quality of the service provided.

The other characteristics listed do not accurately reflect the nature of services. Services are typically produced concurrently with consumption, meaning they are not usually offered in large quantities as manufactured goods are. They often require significant planning and organization to ensure quality and efficiency. Additionally, service pricing can be variable based on different factors such as demand, duration, or level of customization, rather than being fixed.