Servitization of business updated : now, new, next

Abstract

Coined in 1988, “servitization” has become the go-to concept for enhancing corporate competitiveness through value-added services. Over the years, the notion of value-added services to create a competitive edge, enhanced customer relationships, and market power has changed, facilitated by ever advancing technology. The authors look at this progression, spanning from the 1970s to the 2020s and into the future, with examples in both a B2B and B2C context. This is intended to assist both academics and practitioners in positioning themselves and taking steps to advance their research, thinking, and strategies.