David H. Maister, in his book "Managing The Professional Service Firm," emphasizes the distinction between goods and services, highlighting that goods are tangible items that are consumed, while services are intangible experiences that involve interaction between service providers and clients. This difference is crucial for understanding how to effectively manage professional service firms, as the nature of services requires a different approach from that of product-based businesses.

Services, being experiential, rely heavily on customer perceptions and interactions. Service providers must focus on delivering exceptional experiences to their clients, as this can significantly impact client satisfaction and loyalty. By recognizing the importance of the experiential aspect of services, firms can enhance their practices, build stronger relationships with clients, and ultimately drive business success.