The dynamical spin structure factor and the Raman response are calculated for structurally dimerized and spin-Peierls chains in a magnetic field, using exact diagonalization techniques. In both cases there is a spin liquid phase composed of interacting singlet dimers at small fields h < hc1, an incommensurate regime (hc1 < h < hc2) in which the modulation of the triplet excitation spectra adapts to the applied field, and a fully spin polarized phase above an upper critical field hc2. For structurally dimerized chains, the spin gap closes in the incommensurate phase, whereas spin-Peierls chains remain gapped. In the spin liquid regimes, the dominant feature of the triplet spectra is a one-magnon bound state, separated from a continuum of states at higher energies. There are also indications of a singlet bound state above the one-magnon triplet. 75.10.J,72.15.Nj,78.70.Nx,