Product and Service Innovation

Dan Trotzer
Additional contact information
Dan Trotzer: Bhootan Inc., LLC

Chapter 2.4 in From Strategy to Execution, 2008, pp 107-132 from Springer

Abstract: Abstract As the pace of change continues to accelerate for firms across all industries, geographic locations, and markets, many companies are beginning to challenge the traditional view of what constitutes product and service innovation. In a sense, we are seeing the innovation of innovation. At a very basic level, product and service innovation is the enhancement, reconfiguration, or replacement of anything that generates revenue for a company. A product and service innovation strategy provides the guidelines for individuals throughout a company to understand the way forward for their company and shape their activities to contribute toward a defined goal. In response to the current environment of accelerated change, we have witnessed somewhat of a paradigm shift away from linear innovation strategy models to non-linear, more complex and creative models. In a traditional, linear model of product and service innovation, companies remain competitive by making incremental improvements and adding new features to comparable products serving similar markets. In this general category of product and service innovation strategy, the primary question driving the strategy is “how do our products and services perform relative to other companies doing the same thing?”

Keywords: Consumer Electronic; Service Innovation; Innovation Strategy; Cleaning Agent; Entertainment Industry (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-540-71880-2_6

Ordering information: This item can be ordered from
http://www.springer.com/9783540718802

DOI: 10.1007/978-3-540-71880-2_6

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().