Strategies and Challenges in Service Management 2007

Service business is responsible for steady growth and solid profits. Across multiple industries and within various market sizes, many ‘product centric ‘companies, which provide technologies to their customers, suffer from pressure on prices and margins due to strong competition and difficulties in differentiating their products. Service business is considered a new driver for revenues, profits, customer satisfaction and loyalty and provides competitive differentiation to avoid product ‘commoditization’. Moreover, and although it may be different from one service industry segment to another, the overall potential for growth in technical service business is considerable when compared to the other business activities.