360º̉ SERVITIZATION AS STRATEGY FOR BUSINESS GROWTH

Abstract

Servitization is type a business model innovation where companies extend their product offers through related services. A 360º̉ Servitization is when the manufacturing company uses a base, intermediary and advance service portfolio together with their product portfolio to co-create a unique value proposition to each customer. This research aims to understand how an organization ventures to grow the business through a 360º̉  Servitization. Underpinning the Resource Advantage Theory, a single-case study is conducted in order to achieve the aim of the paper. Data was  collected from semi-structured interviews, company reports and the website. A participatory approach with the company CEO strengthened the esearch findings. A deductive content analysis was conducted and findings were reported. This study identifies the importance of a unique product service bundle for each existing and potential customer to co-create value to enhance business growth. The research further identifies the importance of all service types such as base services, intermediary services and advance services when creating a unique product service bundle. The Product- Service-Customer Matrix developed in this study is an import tool for business to business manufacturing organizations in the 21st century to co-create value with the customer. This matrix is a useful tool for managers in business to business manufacturing companies to amplify businessrowth opportunities. Due to limitations inherent in a qualitative case study approach it is not possible to generalize the findings beyond the case company. Moreover, researches in different manufacturing companies are required to improve the generalizability.

KEYWORDS
Business Growth, Business Model, Product-Service, Servitization