Question

Most consumer services appear to have short life cycles, and most consumer products have very long life cycles. True or false?

Answer 1

Most consumer services appear to have short life cycles, and most consumer products have very long life cycles.

True.

Products become tangible, a habitual part of people's lives and without using certain consumer products, people can't live. Also, customer satisfaction level would more or less remain the same across a wide population. For example, people can't live without using toothpaste for cleaning their teeth.

Whereas, services are imtangible, more experience oriented and the customer satisfaction level varies from user to user. For example, using satisfaction derived from a maid's service for cleaning your house would depend upon a lot of factors like your mood, day of the week, his/her behaviour, his/her actual quality, etc.