From Products to Services

From Products to Services

Author: Laurie Young

Publisher: John Wiley & Sons

Published: 2008-05-05

Total Pages: 364

ISBN-13: 0470026685

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During the last thirty years, a wide range of product companies throughout the Western economies have considered moving into or setting up service businesses. Some have rejected the idea after careful consideration, some have wandered into competitive services without any real idea of what is involved and others have deliberately executed a carefully considered strategic manoeuvre. Included in this debate are some of the most famous business names in the western world: Unisys, Ericsson, Michelin, Nokia and HP. For IBM it was Lou Gerstener’s ‘big bet’; at GE it was one of former CEO Jack Welch’s ‘four major strategies’ and, at General Motors, the financial services arm was its most profitable business for many years. Yet very little has been published on this profound transition. As a result, myths and idiocies abound. Some routinely claim that the ‘evolution from products through services to solutions’ is inevitable. Others think that manufacturing is being outsourced to China and India while American or European teenagers face a career in hamburger stalls. The truth is much more fascinating. To succeed in a service business, most functions of a product company need to change. Operations, management, recruitment, finance, sales, new product development and marketing must all be adjusted. So the move into service therefore involves huge risk caused by disruptive and radical change. What has pushed realistic business people in such widely different industrial sectors to take so large a risk? Does their experience contain lessons or warnings for others? Is the trend likely to continue and affect other parts of the world as their economies develop? Will India, China or other developing economies need to learn how to export service once their manufacturing industries mature? Written by a successful businessman who has been at the heart of these changes in several companies and, with case studies from companies like IBM, Unilever, BT, Michelin, Ericsson and Nokia, this book explores the experience of those who have made the transition; and some who have resisted it. It covers in depth subjects such as: strategic focus, change management, service operations, branding a service business, service sales and service marketing. It is the first major work on this subject. "This book is a ‘must read’ for those considering the plunge into service growth and innovation. Even those companies that have already taken the plunge will gain fresh perspective" —Jim Spohrer, Director, IBM Almaden Research Centre, USA "Laurie Young details in very practical ways the reasons and methodologies for change … I would recommend this book to every one of my customers." —Douglas Morse, Managing Principal for the Services Transformation and Innovation Group LLC "I am thrilled with the publication of this much needed book. In my work with businesses around the globe, I find that grappling with the challenge of transforming a company from products to services is a compelling priority for increasing numbers of firms." —Stephen W. Brown, PhD, Carson Chair, Professor and Executive Director, Center for Services Leadership, W. P. Carey School of Business, Arizona State University


Developing New Products and Services

Developing New Products and Services

Author: Lawrence Sanders

Publisher: Business Expert Press

Published: 2011-10-14

Total Pages: 241

ISBN-13: 160649242X

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This book will focus on the up-front activities required for product and service differentiation, the learning methodologies that contribute to arriving at that differentiation, and the role that technology plays in implementing the process. The book will show how technology factors into such entrepreneurial activities as engaging in business planning and utilizing creativity and innovation, and how creative innovation, in turn, is achieved and enhanced through an understanding of two different modes of learning: "learning about" and "learning by doing". A successful product introduction depends on an efficient supply chain, a strong brand, and the ability of a manufacturer or provider to differentiate it successfully in the marketplace. New Product and Services Development demonstrates how differentiation, this last critical component, can be secured by the strategic use of technology and by engaging in two key learning methodologies.


Productize

Productize

Author: Eisha Armstrong

Publisher: Vecteris

Published: 2021-05-02

Total Pages: 172

ISBN-13: 9781736929612

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Many professional services businesses want to create more scalable services and solutions but they often lack the tools and capabilities to successfully transition from a customized services model to a scalable solutions and products model. Productize outlines the unique pitfalls that professional services organizations face when they embark on a strategy of creating more scalable, often tech-enabled, products and services and it provides you with the tactics and tools to overcome these pitfalls. It is designed to be a practical playbook for any leader of a professional services business who wants to successfully accelerate growth.Productize draws on the 25+ years of experience that Eisha Armstrong has in successfully creating, launching and growing productized services. Eisha knows what works and what doesn't and she is passionate about making sure organizations learn from each other and avoid reinventing the wheel.Productize includes real-life case studies and stories featuring professional services leaders who have successfully led their organizations to create more scalable services and products. It also includes more than two dozen tools and templates to help your team implement the tactics so you don't have to start from scratch.In this book, you'll learn:1) How to turn shift your culture to embrace a product mindset2) The capabilities you to be successful and whether or not you should acquire them or grow them internally3) How much money to invest in exploring and building more scalable solutions and products4) How to ensure there is a viable market for your product idea5) How to sequence investments in new product development6) How to successfully source and work with developers and data scientists7) How to inexpensively test your ideas before investing in development8) How to win the hearts and minds of your sales team to ensure your new products are commercially successfulBonus: Key point summaries at the end of each chapter to help you lock in what you learnBonus: More than two dozen tools and templates to help your team implement the tactics so you don't have to start from scratch.


Creating and Marketing New Products and Services

Creating and Marketing New Products and Services

Author: Rosanna Garcia

Publisher: CRC Press

Published: 2014-04-11

Total Pages: 414

ISBN-13: 1482203618

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This textbook teaches the key business and marketing principles needed to successfully design and launch new products and services in an international marketplace. The book emphasizes marketing research techniques that can help firms identify the voice of the customer and incorporate these findings into their new product development process. It addresses the role of social networks in innovation, open innovation strategies, and international co-development efforts of new products and services.


Pricing Of Products & Services

Pricing Of Products & Services

Author: Tridib Mazumbar

Publisher: World Scientific

Published: 2020-12-15

Total Pages: 377

ISBN-13: 9811204195

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The price of a product or a service is a critical element of the marketing mix. Price influences product demand, and the firm's revenue and profits. Prices also signal product quality and value, customer self-image, and the seller's pricing practices. With appropriate balance of theory, applications, and analytics, this book provides business students and practitioners the tools to make profitable pricing decisions under a variety of real-life contexts — current and emerging.Theoretical foundations for pricing decisions come from microeconomics, psychology, and behavioral decision theories. Well-established economic principles, with available data and analytics, help firms customize prices based on customers' willingness to pay, quantity purchased, timing and urgency of purchase, and by bundling their products and services. Pricing and promotional strategies of firms are further informed by the consideration of consumer psychology as well as the decision rules that consumers employ in framing of and responding to prices.As a practical step-by-step guide for firms, the book presents a comprehensive framework for pricing decisions. The framework illustrates how firms' pricing decisions are shaped by customer valuation of the product or service, firm cost, and competition within the category. Additional considerations include: channel arrangements, legal and regulatory limits, public sentiments, and the overriding strategy for the firm. Short cases and numerical examples help illustrate how these factors can be incorporated in firm making decisions.In addition to offering the theoretical foundation and practical guidelines for pricing, there are several distinctive features of the book.Pedagogically, the book takes a quantitative approach to pricing decisions and places a special emphasis on the utilization of data and analytics. Nevertheless, sound intuition and judgments remain a prerequisite.


Modern Industrial Services

Modern Industrial Services

Author: Shaun West

Publisher: Springer Nature

Published: 2022

Total Pages: 220

ISBN-13: 3030805115

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This open access book is an outcome of several years of research, practice, and teaching experience of the authors on the challenges that underpin the successful switch to services for manufacturing firms. Ideal for a student as well as a practitioner, the book describes the industrial services ecosystem, the barriers and challenges, and a roadmap for building service excellence. Curated cases are used to describe the current approaches in practice to overcome the barriers. The book also provides several tools, each with a short introduction, that the authors have used successfully in projects to help overcome the servitization barriers. Many of these tools are from management, design thinking, or service design. The service excellence roadmap is based on the development methodology and helps current and future business leaders to create their own individual roadmaps.


What Customers Want: Using Outcome-Driven Innovation to Create Breakthrough Products and Services

What Customers Want: Using Outcome-Driven Innovation to Create Breakthrough Products and Services

Author: Anthony Ulwick

Publisher: McGraw Hill Professional

Published: 2005-09-06

Total Pages: 242

ISBN-13: 0071501126

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A world-renowned innovation guru explains practices that result in breakthrough innovations "Ulwick's outcome-driven programs bring discipline and predictability to the often random process of innovation." -Clayton Christensen For years, companies have accepted the underlying principles that define the customer-driven paradigm--that is, using customer "requirements" to guide growth and innovation. But twenty years into this movement, breakthrough innovations are still rare, and most companies find that 50 to 90 percent of their innovation initiatives flop. The cost of these failures to U.S. companies alone is estimated to be well over $100 billion annually. In a book that challenges everything you have learned about being customer driven, internationally acclaimed innovation leader Anthony Ulwick reveals the secret weapon behind some of the most successful companies of recent years. Known as "outcome-driven" innovation, this revolutionary approach to new product and service creation transforms innovation from a nebulous art into a rigorous science from which randomness and uncertainty are eliminated. Based on more than 200 studies spanning more than seventy companies and twenty-five industries, Ulwick contends that, when it comes to innovation, the traditional methods companies use to communicate with customers are the root cause of chronic waste and missed opportunity. In What Customers Want, Ulwick demonstrates that all popular qualitative research methods yield well-intentioned but unfitting and dreadfully misleading information that serves to derail the innovation process. Rather than accepting customer inputs such as "needs," "benefits," "specifications," and "solutions," Ulwick argues that researchers should silence the literal "voice of the customer" and focus on the "metrics that customers use to measure success when executing the jobs, tasks or activities they are trying to get done." Using these customer desired outcomes as inputs into the innovation process eliminates much of the chaos and variability that typically derails innovation initiatives. With the same profound insight, simplicity, and uncommon sense that propelled The Innovator's Solution to worldwide acclaim, this paradigm-changing book details an eight-step approach that uses outcome-driven thinking to dramatically improve every aspect of the innovation process--from segmenting markets and identifying opportunities to creating, evaluating, and positioning breakthrough concepts. Using case studies from Microsoft, Johnson & Johnson, AIG, Pfizer, and other leading companies, What Customers Want shows companies how to: Obtain unique customer inputs that make predictable innovation possible Recognize opportunities for disruption, new market creation, and core market growth--well before competitors do Identify which ideas, technologies, and acquisitions have the greatest potential for creating customer value Systematically define breakthrough products and services concepts Innovation is fundamental to success and business growth. Offering a proven alternative to failed customer-driven thinking, this landmark book arms you with the tools to unleash innovation, lower costs, and reduce failure rates--and create the products and services customers really want.


The Product-Led Organization

The Product-Led Organization

Author: Todd Olson

Publisher: John Wiley & Sons

Published: 2020-09-23

Total Pages: 272

ISBN-13: 1119660874

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A playbook on product-led strategy for software product teams There's a common strategy used by the fastest growing and most successful businesses of our time. These companies are building their entire customer experience around their digital products, delivering software that is simple, intuitive and delightful, and that anticipates and exceeds the evolving needs of users. Product-led organizations make their products the vehicle for acquiring and retaining customers, driving growth, and influencing organizational priorities. They represent the future of business in a digital-first world. This book is meant to help you transform your company into a product-led organization, helping to drive growth for your business and advance your own career. It provides: A holistic view of the quantitative and qualitative insights teams need to make better decisions and shape better product experiences. A guide to setting goals for product success and measuring progress toward meeting them. A playbook for incorporating sales and marketing activities, service and support, as well as onboarding and education into the product Strategies for soliciting, organizing and prioritizing feedback from customers and other stakeholders; and how to use those inputs to create an effective product roadmap The Product-Led Organization: Drive Growth By Putting Product at the Center of Your Customer Experience was written by the co-founder and CEO of Pendo—a SaaS company and innovator in building software for digital product teams. The book reflects the author’s passion and dedication for sharing what it takes to build great products.


Understanding Products as Services

Understanding Products as Services

Author: Felix Wortmann

Publisher: Emerald Group Publishing

Published: 2024-06-14

Total Pages: 209

ISBN-13: 1837978255

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Understanding Products as Services serves as an indispensable guide for navigating the hybrid economy, enabling you to leverage the integration of hardware and software, and propel your organization to the forefront of innovation and success.