Definition
Service type is the role you propose to play in an opportunity. It is similar to “Company Role” in projects.
Create Default Service Type
When an account is created on .STUDIO, we create default Service Types on your system that you can choose from. You can either choose to use them, or you can create new ones as per your convenience.
To edit or delete existing Service types, click on the profile icon on the top right and then on settings. 
It will take you to the settings page where you’ll find the “Service Type “ tab under the opportunity section to the left of your screen.
You can then click on the actions to the right of the service type you’d like to edit or delete and make the necessary updates.
To create a new Service Type, click on “Add Service Type”.
Add the details. Example: “Product Design”. And then click on save.