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.