The closely knit and dependent environment and the world that we live in demands a constant flow of change, evolution and it always is hungry for a bit more every time you assess it. Whenever a new element has been introduced to the market, since the time of its inception, it goes through a constant demand to improve in all spheres possible. Such is the demand and dynamics of the market.
When looked at the world of commodities from a bird’s eye point of view, the world in there has changed through lengths and breadths of its meaning. Evolved it has in the broadest sense of the meaning of the word. From having a singular existence in the world between a consumer and manufacturer, a commodity now has a partner in existence. Service by definition has become a commodity in itself that accentuates the overall dependability of the product it associates itself with.
Tracing back the history of the word and how it became a household term used in daily lives, it once was considered not necessary to have service attached to a product or a commodity as a whole as the economy was functioning on a use and throw agenda, as was the trend of the decades. It was a common idea that if one had to invest in a product and if by any chance the commodity happens to show a fault, it would be deemed something that needs to discard. With the accession of modern day technology and the techniques that came with it, such is not the case.
It is not known in specific measure and to where, how and where the term service was coined and how it got the meaning we know it as. Experts believe that a global demand for something to accompany the wide market of the commodity was massive. This demand gave way to the inception of services as we know it to be today.
In visible recorded history, it’s only in the latter part of the previous century that conglomerates accepted and majorly welcomed the idea of attaching services to their products. The US economy accepted the inclusion with much pomp and glory, taking each industry that took services under its wings to new heights of profit and overall success.
Having made a place for itself in the market, service got a new identity of its own from being an accessory attached to products.