A-Z Popular New Economics Search »
Economics
 
Moral Hazard

Related Topics
Economic Problems

Economic Problems

Competition

Economic Theories

Rent Seeking

Macroeconomics

Economies Of Scope

Invisible Hand

Price Economics

Business Economics

21 Examples of Intangible Goods

 , updated on
An intangible good is a product, service or experience that offers mostly nonphysical value. Modern economies are experiencing a shift whereby economic value is increasingly based on services that have little or no physical form. The following are common examples of intangible goods.
Accounting & Auditing
Advertising
Barbers
Broadcasting
Business Outsourcing
Cafes
Catering
Childcare
Cleaning Services
Cloud Computing
Cloud Storage
Concerts
Conferences
Consulting
Cultural Events
Data Services
Design
Digital Publishing
Education
Engineering Services
Events
Festivals
Financial Services
Flights
Gyms
Healthcare
Hospitality
Hotels
IT Platforms
IT Services
In-Game Items
Marketing Services
Media
Mobile Apps
Movies
Museums
Nightclubs
Payment Services
Performing Arts
Personal Services
Podcasts
Professional Services
Recreation Facilities
Restaurants
Security Services
Social Media
Software
Spas
Sports Events
Streaming Media
Streaming Music
Telecom Services
Theme Parks
Tours
Training
Transportation
Travel
Utilities
Video Games
Virtual Items

What Qualifies as an Intangible Good?

An intangible good is value offered on a market that is mostly nonphysical. This means that most of the value provided by the product, service or experience is has no physical form. For example, if you stay at a hotel they may give you physical things such as a toothbrush but most of the value they are providing you isn't a physical product. The following are more detailed examples of intangible goods:

Consumer Services

Services such as restaurants that primarily serve individual customers as opposed to businesses. Economists tend to view full serve restaurants as intangible goods but take-out food or fast food as a tangible product. In theory, if most of the cost of a restaurant is related to things like service, environment and ambiance than it is an intangible good. However, if most of the value derives from the food itself, it is more of a tangible product.

Knowledge Products

Knowledge such as an electronic document that gives advice on how to be a good public speaker.

Education

Education such as a class that teaches computer programming.

Information & Data

Information designed to be consumed by people and data designed to be consumed by machine. For example, a navigation app that provides realtime directions.

Media

Digital media such as photographs, video and content.

Software

Software such as a sales automation platform. Software includes both applications used by people and systems that automate things.

Art, Film & Music

Digital media that has artistic value such as a music video.

Professional Services

Professional services such as legal advice from a lawyer.

Personal Services

Personal services such as a personal trainer.

Club Goods

Club goods provide access to major capital for a fee. For example, a theme park that provides access to a wide range of attractions and performances.

Consulting

Consulting services that produce intangible work products such as knowledge and software.

Business Services

Services that produce value for a business such as a cloud computing platform that provides a business with computing power.

Events

Events such as a musical performance.

Entertainment

Entertainment such as a theme park.

Travel

Travel experiences such as a tour of a historical attraction.

Culture Goods

Cultural experiences such as a traditional festival.

Digital Goods

Digital goods are products and services that are delivered with computers and networks such as an online video game or an in-game purchase of a virtual item.

Communication Services

Communication services such as a long distance phone call.

Risk Products

Risk related services such as insurance.

Financial Services

Financial services such as an electronic money transfer.

Public Goods

Public goods such as a park enjoyed by residents of an area.

Product Intangibles

Intangible value is the primary type of value created by a modern developed nation. Even physical products are mostly priced based on their intangible qualities such as brand, usability and customer experience. Examples of this are easy to identify ... a luxury handbag that offers social status or a smartphone that's easy to use. In this context, the view that services are intangible and products are tangible is perhaps outdated. For example, a restaurant is viewed as intangible because its service and atmosphere is considered more valuable than the food. However, a handbag is still viewed as a tangible product even if most of its value may be tied up in brand image and its power as a symbol of social status.

Summary

Intangible goods are products and services that offer nonphysical value. These are mostly services that offer a process or experience. It is also possible for products to be intangible such as an ebook that you download or an in-game item. In advanced economies, intangible goods are typically a larger part of GDP than tangible products. Massive industries such as information technology, education, healthcare, government services, hospitality, travel, transportation, professional services, personal services and outsourcing are all mostly intangible.

Notes

It is incorrect to say that intangible goods are completely nonphysical or that tangible goods are completely physical. The distinction between the two is really about where most of the value comes from. In practice, this is based on traditional categories that aren't particularly accurate whereby products that are mostly priced based on brand, usability or experience are still viewed as fully tangible.
Overview: Intangible Goods
Type
Definition
Products and services that offer mostly nonphysical value.
Related Concepts
Next read: Experience Goods
More about intangible goods:
Brown Goods
Business Goods
Capital Goods
Club Goods
Commodities
Common Goods
Common Resources
Complementary Goods
Consumer Discretionary
Consumer Durables
Consumer Goods
Consumer Products
Consumer Staples
Digital Goods
Durable Goods
Economic Goods
Experience Goods
Fashion Goods
Final Goods
Finished Goods
FMCG
Goods & Services
Inferior Good
Information Good
Intangible Goods
Intermediate Goods
Knowledge Product
Luxury Goods
Market Goods
Merit Good
Natural Resources
Necessity Goods
Perfect Substitute
Public Goods
Search Good
Social Goods
Soft Goods
Sporting Goods
Substitute Good
Superior Goods
Supplies
Unsought Goods
Veblen Goods
Virtual Goods
White Goods
If you enjoyed this page, please consider bookmarking Simplicable.
 

Digital Goods

The definition of digital goods with examples.

Goods

The common types of goods.

Substitute Good

The definition of substitute good with examples.

Economic Bad

Common examples of an economic bad.

Necessity Goods

The definition of necessity goods with examples.

Information Good

The definition of information good with examples.

Knowledge Product

The definition of knowledge product with examples.

Common Goods

The definition of common goods with examples.

Merit Goods

The definition of merit good with examples.

Consumerization

The definition of consumerization with examples.

Services

A list of common types of services.

Business Services

Common examples of business services.

Business Services Definition

The definition of business services with examples.

Consumer Services

Common examples of consumer services.

Business To Business

Examples of business-to-business markets.

Service Economy

The definition of service economy with examples.

Service Culture

The definition of service culture with examples.

Service Inventory

The definition of service inventory with examples.

Public Services

The definition of public services with examples.
The most popular articles on Simplicable in the past day.

New Articles

Recent posts or updates on Simplicable.
Site Map