ABSTRACT
This chapter considers the nature of service products and the particular distinctive characteristics of the products. An understanding of these features and the managerial implications that flow from them is necessary in that it informs and underpins the strategy formulation process. Formulating the strategy represents a complex set of challenges for managers operating in these sectors because of the nature of the products being sold and because of the distinctiveness of the environment in which these sectors exist. Products in the have a number of key or defining characteristics that are important because they are of relevance to how managers make decisions in these sectors. Some of these characteristics they share with other service products, which are discussed in the following section. Some other characteristics can be viewed as characteristics of the products in particular.
