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What does servitization mean for your business?

In other words, servitization means selling entire solutions instead of just products. The concept of servitization was popularised in the 1980’s as a way for manufacturers to differentiate themselves from their competition and strengthen customer relationships.

What is the meaning of servservitization?

servitization noun The delivery of a service component as an added value, when providing products. Etymology: Irregularly from. Editors Contribution (4.00 / 1 vote) Rate this definition:

How do you integrate servitization into your business model?

When integrating servitization into your business model, offering product-oriented services gives you the most options. Many businesses choose to go the route of offering advice, training, consulting, or help-desk services for product use. This helps their customers efficiently use the product they’ve purchased.

Why is servitization growing in popularity?

Conclusion – Servitization is Growing in Popularity. As customers continue to expect additional benefits and long lasting relationships with their dealers, more manufacturing companies will add service contracts to their product sales.