Dr Veronica Martinez explains that UK manufacturing companies often cannot compete on price alone, while product differentiation is getting more difficult and expensive. Services are the key to creating a more diversified business and to building stronger customer relationships, she argues.
Servitization, or the ‘shift to services’, is one of three key streams of activity for Cambridge Service Alliance, along with ecosystem value mapping and data analysis.
Veronica suggests that in future, the interaction of systems, processes and technology will provide a route to ‘total solutions’ for customers. Examples mentioned are miniaturisation to drive connectivity of services, and mass personalisation.