Business services are activities that help a company without producing or selling a physical product. Companies rely on these providers for marketing, production, safety, cost and convenience purposes–especially for larger businesses that need to keep up with work demands.
Service-oriented businesses tend to be slanted toward meeting the needs of one of two markets: individual consumers or other businesses/organizations. In some cases, this means that a service-oriented establishment will focus on one market segment while trying to reach the other with its advertising efforts.
Some common types of business services include:
Training Services- Many enterprises require training their employees in soft skills and other requisites to be successful in the company. These firms hire external agencies to provide the training.
Maintenance Services- Keeping the buildings, equipment and other assets of a company in good working condition is essential. Companies need professionals to maintain these properties, ensuring that they function properly and are safe for employees.
Tech Support Services- Companies need professionals to troubleshoot technology problems and ensure that devices, computers and networks work smoothly. These business services are essential to a company’s operations and help employees stay productive.
Intangibility and Inconsistency
One major difference between goods and services is that a person cannot store services for later use, like a person can store physical products. Similarly, in services, demand and supply are near-simultaneous, meaning that a person can’t separate the production from the consumption of a service. This is because service providers have to meet demand immediately and deliver services exclusively each time they are needed.