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Frequently Asked Questions
Netflix and Spotify are probably the most well-known example of this, delivering media as a service, rather than customers buying the CDs, DVDs et cetera that produce those outcomes. Although very different to media streaming businesses, manufacturing can also benefit from servitization.What is a servitised business model?
With a servitised business model, a customer pays only for the value it receives from a supplier, while a manufacturer builds a profitable business from constant streams of additional, incremental revenue.What are the benefits of servitization for businesses?
There are a number of benefits for businesses adopting a servitization model, the first being meeting customers’ demands, leading ultimately to greater customer retention. No longer can a business rest on its laurels and assume that products alone will sustain a business.Is servitization the future of media streaming and manufacturing?
Although very different to media streaming businesses, manufacturing can also benefit from servitization. Manufacturing businesses can offer additional services to supplement their traditional products such as maintenance, keeping a fleet of vehicles on the road as a service.