Business Products and Services (2024)

Find the examples, definitions, and comparisons of products and services that support the key functions of your business. Browse Investopedia’s expert written library to learn about software, resources, equipment, and more.

Products and Services

Business Products and ServicesByStaff AuthorUpdated Aug 11, 2022 Best Short-Term Business LoansByBen LuthiUpdated Jun 15, 2023 Best Invoicing SoftwareByJennifer LobbUpdated Apr 04, 2023 Best Professional Liability InsuranceByElizabeth RivelliUpdated Feb 06, 2023 The Importance of Excel in BusinessByEric RosenbergUpdated Nov 28, 2022

Frequently Asked Questions

  • Are UPS and FedEx the same?

    While both companies have overlapping business models and markets, UPS specializes in domestic ground package delivery and FedEx specializes in rapid, time-sensitive international air freight.

    Learn MoreUPS vs. FedEx: What's the Difference?

  • Competitive intelligence involves researching and understanding a business’s industry and primary competitors while business intelligence entails software programs and applications that aid in strategic planning for a business.

    Learn MoreWhat Is the Difference Between Business Intelligence and Competitive Intelligence?

  • How do you calculate an EBITDA margin using Excel?

    To calculate EBITDA margin you simply need to add together the earnings before interest and taxes from the income statement to the depreciation and amortization from the statement of operating cash flows. Then, you can divide the EBITDA by the period’s revenue to arrive at the EBITDA margin percentage.

    Learn MoreHow Do I Calculate an EBITDA Margin Using Excel?

  • What is meant by the Internet of Things (IOT)?

    The IOT refers to the totality of internet-enabled devices, connecting through wifi, Bluetooth, data plans, or near-field communications, such as computers, mobile devices, wearable technologies, and smart appliances like thermostats, home security systems, and refrigerators.

    Learn MoreThe Internet of Things (IoT): An Overview

Key Terms

  • Electronic Retailing (E-tailing)

    Electronic retailing involves the sale of goods or services through online channels such as websites or mobile applications. E-tailing can occur between businesses, between two parties of consumers, or from businesses to consumers.

    Learn More

  • Business Intelligence

    Business intelligence, or BI, entails the use of specialized analytical tools, software, and applications to monitor and study the metrics of businesses and their industry to aid in strategic business management decisions.

    Learn More

  • Customer Relationship Management - CRM

    Customer Relationship Management involves the methodology employed by businesses to manage all interactions with their customers. Formal CRM processes guide sales, forecasting, and analysis of customer trends in order to optimize customer experience and sales performance.

    Learn More

  • Click-Through Rate (CTR)

    The click-through rate refers to the percentage of website visitors who click on an online advertisem*nt, who are then transferred to the advertiser's website or sales landing page. The higher the click-through rate the more effective an online advertisem*nt is considered to be based on a cost-per-click metric.

    Learn More

  • Proprietary Technology

    Proprietary technology is a system, software, application, or tool protected by intellectual property laws that has been developed exclusively in-house within an enterprise or purchased from another company or individual that grants the enterprise the rights to that technology. Proprietary technologies can be licensed to other businesses or used for competitive advantage to the enterprise that owns the technology.

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  • Electronic Meeting System (EMS)

    An electronic meeting system is a software-enabled application that facilitates video and audio conferencing over the internet among far-flung individuals within a company or among any group of individuals needing to communicate and collaborate online. Electronic meeting systems such as Zoom, Microsoft Meeting, and Webex greatly aided corporate operations to move toward remote work during the global pandemic and evolving hybrid work models moving forward.

    Learn More

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Business Products and Services (2024)
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