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goods and services:

. . . material things and work performed within an economy; production that either moves or is intended to move through an exchange process. The expression covers both tangible items and intangible efforts of employment. A product is an example of a tangible item.

The flow of goods and services through a value chain in a free-market economy creates wealth. Consumption, a term of economics, is involved and factors into productivity output which helps produce statistical measures. Monitoring the flow of goods and services is of interest to governments as they search for sources of tax revenues to tap.



 
 
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exchange process?

The marketing exchange process is the series of actions initiated when decisions are made to satisfy wants or needs for goods or services by parties (customers, clients, etc.) ready to deal with vendors. The process ends in a particular case when a vendor is willing to accept something of value in exchange. The following quote ties this explanation to voice of the customer, an expression also defined in the PPI Quality Glossary (access definition).

(The) customer is the boss-yesterday,today, and tomorrow (source of quote).


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Economic Development Services, Inc. / copyrights and all rights reserved / 11/04/2013