Services are those seperately identifiable, essentially intangible activities that provide satisfaction to the consumers. In context to business, how can you define services?
In the context of business, we may define services as all those economic activities that are intangible and imply an interaction between the service provider and the consumer.
Services may be both business and professional. Business services include banking, insurance, transportation, warehousing, communication, etc. Whereas professional services include legal advice, medical advice, tax consultancy, etc.