(b) Companies that operates and sell technology-based services could sell their products
to domestics and international customers. As a result, it leads to better business scale
and passed the cost savings and efficiencies to other businesses and consumers at
large. Based on the statement, explain the type of services providers used by the
companies.
The type of services providers used by the companies.
1. Consumer Services
 The services that offered to consumers for consumption are known as consumer services.
Every individual, in various capacities enjoy the different services.
 Communication - The world has become small due to communication system. The whole
world is connected with internet, phone, mobile, fax, television, telex, etc. The concept ‘EWorld’ speaks about communication system. Accuracy and speed are the characteristics of
modern communication.
 Food service - There are some eating places where in food is provided for value. The people,
now a days are cultivating the habit of out siding eating. Such public are satisfied by
providing the food expected by them in the places.
2. Industrial services
 Business - Is known for risks. But risks freeness is possible with the help of insurance
centers. Business can delegate every risk to Insurance companies, any loss due to natural
calamities; normal, abnormal, known, unknown reasons can be insured. Employees, their
families, assets are also insured. Risks transfer has enabled the business executives a smooth
functioning.
 Management Consultants - A modern professional service is management consultancy.
Business houses have become professional institutions. To grow with professional touch, the
consultation in the areas of marketing, finance, public relation, labor welfare, information
technology, future planning and strategies, environment has become inevitable.
 Financial- Many consumers require the service of banks for financing their purchases of
durable goods usually through installment sales. In foreign countries, they even have easy
house financing through bank loans. Home owning is made easy with the help of mortgage
loans. The modern high standard of living has become a reality for masses due to a
customer-oriented marketing approach adopted by banks recently.