Business services are a type of industry that provides a range of activities to help maintain a business. They don’t always result in a tangible product, but they help large firms with production, marketing and other needs.
Service-oriented businesses tend to target either individual consumers or other businesses/organizations as their primary customers. For example, a pet grooming establishment will not waste its advertising dollars trying to reach other businesses because its primary market is consumers; a company that offers security personnel will concentrate on businesses.
They are also able to operate wherever their clients have service needs. For example, a carpet cleaning service can work from the client’s home.
These companies have low barriers to entry and can be started with little capital investment. They can compete with larger companies with more resources.
A key challenge for business service businesses is designing a product that meets an attractive group of customers’ needs and desires. Just as with a product business, the success of a service-oriented business depends on four key elements: design, customer experience, delivery and pricing.
The first element of service design is customer experience, which includes the ways in which customers can benefit from your services. For instance, they may value the convenience of your services or appreciate that you offer friendly interaction with your customers. In addition, your customer experience may also be reflected in the quality of the products you sell or the efficiency of your operations.
