Questions

Product formation : It can be defined as putting different products and services together to form a product for the satisfaction of customer. For e.g. Hospitality is a product formation which is not made from a single item. 

Service brigade : Team of staffs involved in providing service

The Moment of Truth: It is the actual time when customer interacts with service staff. It is the moment of contact when no management has control. It is the motivation, skill, tools of the service and expectation, behavior, expectation of the customer determines the quality of the service.

National Income is the total income value of the goods and services produced by the residents of a country, usually during the period of one year.

National Income is categorized into 6 components. They are :

1. Compensation of Employees (Wages and Benefits)
2. Corporate Profits
3. Rental Income
4. Proprietors Income (Income of unincorporated business)
5. Net Interest

The Largest Component of National Income is Compensation of Employees.

The Largest component of National Income in India is Service Sector.