The ever growing importance of the service sector, both retail and B2B, has made it important for these sectors to come out with new strategies to make themselves more profitable.
Companies need to leverage from the overlapping technology cycles and ensure that they offer true value that is sustainable and demand oriented. Most companies find it difficult to do that and, therefore, fail to leverage the opportunities.
As given in literature, the generic clear-cut and complete, concise and consistent definition of the service term reads as follows:
A service is a set of one time consumable and perishable benefits:
The most popular ones today, in terms of investments, are those of retail and outsourcing.