Services, therefore, should be periodically examined and refreshed, just as products are. After all, customer demand evolves, service expectations change, and technological advances constantly bring new possibilities.

By optimizing their own contribution, they inadvertently overlooked the downstream effect on other internal groups and thus the overall effect on customers.In response, the company dramatically simplified the metrics it used to measure success, choosing error-free orders as a target ensuring that it would stay focused on customers and not its own internal workings.Meanwhile, the company’s call centers began serving as the single point of contact for customer problems.

These companies are learning from the attackers while mobilizing their own strengths—including scale, superior resources, and access to customers—to redefine service offerings, harness digital technology, and improve the customer experience.

Even the most forward-looking incumbents find that implementing an innovation mind-set can be daunting. Traditionally, this has meant focusing on customer segments or groups.

We'll email you when new articles are published on this topic. Travel, Logistics & Transport Infrastructure To seize the opportunities, companies must learn to tap the potential for service innovation made possible by four evolving trends.The benefits of mastering these shifts will be significant.

The initiative helps the company to strengthen its relationships with merchants and serve them better, while also staying relevant to younger, digitally savvy customers.Some incumbents go further by giving consumers even more control over services (see “Digital attackers tend to thrive on simplicity. The company formed a team of project managers, mortgage specialists, and software developers who redesigned the process from end to end, eliminating unnecessary handoffs and simplifying the customer experience—all while keeping the process compatible with the company’s legacy IT systems.

Some are lowering their costs as well. Please use UP and DOWN arrow keys to review autocomplete results.

Chemicals After all, customer demand evolves, service expectations change, and technological advances constantly bring new possibilities. These include: 1. Innovation in services, in service products – new or improved service products (commodities or public services). The authors wish to thank Travis Fagan and Keith Gilson for their contributions to this article.Please create a profile to print or download this article.

Advanced Electronics

Transformation Automotive & Assembly

Metals & Mining Marketing & Sales Press enter to select and open the results on a new page.In addition, artificial intelligence and robotics represent intriguing developments that appear poised to make their way from manufacturing to services. In the McDonald’s innovation center, for example, the company develops prototypes and simulates new service procedures in fully functioning mock restaurants housed in a suburban Chicago warehouse.

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