Servitization of products and content
There was a time, not so long ago, when products were just products. However, as technology has advanced and products have become ever more sophisticated and digitally connected, expectations around customer service for products and after-sales support have soared. And as the Internet of Things increasingly becomes a day-to-day reality, these expectations will only grow.
If technological change and rising customer expectations weren’t enough to contend with, many manufacturers face market saturation and limited growth prospects. And with technology constantly evolving, products that can take years to develop may quickly become outdated and redundant, threatening the company’s return on investment. In addition, customers are becoming increasingly wary of investing heavily in products that have a shorter and shorter lifespan.
The challenges are certainly daunting but some manufacturers ...
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