What are the basic differences between pricing of goods and pricing of services? Does characteristics of services influence their pricing? Discuss.

The pricing of goods and services differs significantly due to the unique characteristics inherent in each. Services possess distinctive attributes that impact how they are priced compared to tangible goods. Understanding these disparities is crucial in devising an effective pricing strategy for services.

1. Intangibility: One of the fundamental differences between goods and services is their tangibility. Goods are physical entities that customers can see, touch, and evaluate before purchase, making their value more tangible. On the contrary, services lack physical substance, making _______ __________ _______ _________ ____ _______ ________ _______.
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