Customer Value Propositions for Servitization
The term ‘customer value proposition’ describes an offering made by a manufacturer to its customer. Although often used within business, this term is frequently misinterpreted, misunderstood and used loosely in relation to services and servitization.
This mini-guide is for executives and managers within manufacturing businesses who are setting out to understand and create customer value propositions for services, and especially advanced services. The guide commences by explaining what is meant by a customer value proposition, how it fits within the concept of a business model and the different types of propositions that exist for base, intermediate and advanced services. It then explores leading practices for the crafting of a bespoke customer value proposition, and lays out these practices as a seven-step design process.
The goal of this mini-guide is to clarify the concept of a customer value proposition for services, especially advanced services, and equip executives and managers with a basic understanding of a design process. It assumes the reader is relatively new to the field of servitization and advanced services, and therefore covers a broad range of topics at a general level.
The insights presented are based on a synthesis of rigorous research and empirical evidence from leading manufacturers. Throughout the guide, there are references to the key scholars and businesses on which it is based. The guide is focused and tailored to executives within manufacturing organisations; however, much of the material is also relevant to conventional service-based businesses seeking to create innovative customer value propositions.
The mini-guide comes with separate worksheets in several sizes to follow the process of creating a customer value proposition for servitization for your company.
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