A Study on the Integration of Product Innovation and Service Innovation

In this paper, we discuss how companies make the transition to integrate products and services. There are four stages of service management maturity. Each stage adds higher levels of service, provides more sophisticated solutions, and generates more attractive margins. To match these higher stages of service maturity requires expanding your value proposition beyond existing products to provide customers with solutions that include integrated products and services. You also need to fuse technology and business model innovation by organizing and allocating the appropriate resources. Finally, you need to develop robust partnerships to support the enhanced customer value proposition.