Example when a person goes to a dentist he use the services of the dentist and returns with a relief. In the process he does not get any physical commodity but still he has consumed a service. Core goods providers provide a significant service component as part of their businesses.
The American Marketing Association defines services marketing as an organisational function and a set of processes for identifying or creating, communicating, and delivering value to customers and for managing customer relationship in a way that benefit the organisation and stake-holders.
Answer:
Equilibrium price would fall
Equilibrium quantity would remain unchanged
Explanation:
A perfectly inelastic demand means the quantity demand doesn't change regardless of changes in price.
If supply increases, equilibrium price falls while quantity remains unchanged.
Refer to the image attached for a graphical explanation.
I hope my answer helps you
That has share holders and a board of directors.