service-oriented businesses

Service-oriented businesses focus on providing intangible products and services rather than physical goods. Examples include restaurants, consulting firms, healthcare providers, and educational institutions. These companies prioritize customer experience and satisfaction, often tailoring their offerings to meet individual needs. Revenue is generated through services rendered rather than product sales. This business model emphasizes building relationships, delivering expertise, and ensuring quality, making customer interaction and service delivery key to success. In essence, service-oriented businesses aim to fulfill specific needs or solve problems for their clients.