Business services are the various tasks and activities that assist businesses but do not deliver a tangible product. This sector covers a huge portion of the economy and includes the most valuable part, the knowledge economy. Services include a wide range of areas that businesses cannot handle on their own such as accounting, logistics, and customer service.
Business to business (B2B) services refer to the transaction between one trade organization and another such as a wholesaler and a retailer or a car manufacturing company and its suppliers of raw materials like tires and rubber hoses. This category also includes business to consumer (B2C) services which refers to the interaction between a trade organization and its end customers.
Some examples of business services are animal control, pest extermination and maintenance services. These services help companies avoid code violations and keep employees safe and productive. Additionally, a company that offers tech support to its employees can help solve problems quickly and efficiently.
Successful service businesses have a working plan that incorporates the four critical elements of service design. In contrast to the more rudimentary approach of product design, service designers must understand how customers value a given experience and be able to create an offering that appeals to those values. The ability to do so is essential for gaining market share and expanding into new markets. As with product companies, the success of a service business hinges on the ability to attract and retain attractive customers.