A Service Market refers to the sector where services, rather than physical goods, are bought and sold. This includes a wide range of offerings such as healthcare, education, hospitality, and professional services like consulting and legal advice. The service market is characterized by the intangible nature of its products, meaning that customers cannot physically own or store them. In a service market, businesses often focus on customer experience and satisfaction, as the quality of service can significantly impact consumer choices. Factors such as pricing, availability, and reputation play crucial roles in attracting customers. Examples of service markets include restaurants, healthcare providers, and educational institutions.