Business Services

Business services

Business services are those that are not directly associated with the manufacture and sale of physical products but are necessary for the operation of businesses, such as banking and insurance services, warehousing, transport and communications. The category also includes consulting, information technology (IT), marketing and advertising, facilities management, waste handling and staffing services.

All businesses need a range of business services. This is why the business service industry is such a large and important sector of the economy. It contributes 11% of European GDP, and the growth potential is high. The business service sector is being boosted by new combinations of goods and services as well as increased value added in the form of processing, distribution and reselling.

Unlike product businesses, which focus on designing and developing products that customers will want to buy, service-based companies need to design the service experience from scratch. The result is a unique value proposition that attracts and retains customers. This article explores the key concepts that are at the heart of this approach:

A service business is one which provides products or services that help to improve the efficiency and effectiveness of a company’s business operations. The most common services include consulting, information technology (IT), marketing and advertisements, facilities management, waste handling and staffing. The category also includes services which are related to the quality of employee life such as healthcare, entertainment and daycare. Typically, these are sold to the corporate market at prices which are significantly higher than those for consumer markets.

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