Insurance
What Is Sold?
By Living Healthy, Staying Wealthy  •  August 26, 2011
There are mainly 2 types of business, one, the sale of a product and two, the provision of service.

Selling of a product is quite straightforward, one pays money in exchange for a physical asset or product. When we buy a mobile phone, we pay the price and we receive the goods.

For service, it is paying for the provision of an action or advice. When we pay for a mobile service, the teleco provides the network service for you to make calls/sms/internet, no physical goods was provided.

However, most of the time, the line is not very clear. For example, purchasing a pair of shoes from a shoe shop. Although the end result is receiving a pair of shoes, a service staff is around to assist finding the pair that fits and promoting the product for sale.

So, sometimes, it boils down to the expectation. Some go to hawker ......
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By Living Healthy, Staying Wealthy
Aaron Lau is a Independent Financial Adviser licensed by the Monetary Authority of Singapore to provide financial advice to individuals in Singapore. The main reason he is in the Financial Advisory industry is to share what he has learned after studying and comparing the various insurance and investment instruments in the market. He strongly feels that proper, quality financial planning is important to all individuals and sincerely would like to reach out to help as many as possible.
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