Join Stefan Michel for an in-depth discussion in this video Value constellations are disrupting industries, part of Service Innovation.
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- Let's take a few minutes now…to talk about Value Constellation.…Many successful service innovations go beyond…a new service attribute, service offering.…And even beyond the new service firm.…Many successful service innovations…in the digital world as well as in traditional…or even developing economies…owe their success to bringing different players together.…In other words, it is not the service itself…that has been improved…but the constellation between different firms…who help customers to create more value for themselves.…
I would like to illustrate the idea…of the value constellation by analyzing…how Google makes money.…There are two main approaches for Google…to monetize their services.…The first model is called AdWords.…A user, for example you,…searches for a keyword on Google.com.…Within milliseconds you get a list…with the most relevant links.…On the top, and sometimes on the side,…there are links provided by advertisers.…If you click on such a link,…for example for LA Fitness,…a new window will open showing the website of LA Fitness.…
Once you understand service innovation in its different forms, you can design and implement your own innovations. Each chapter combines real-world case studies with a methodological framework to help you become a better "idea hunter" for service innovation. After you identify an innovative model, you will learn how to align and execute your innovation by applying the customer star model and by embedding your innovation approach in your overall business strategy.
- What is service innovation?
- Innovating by relieving and enabling customers
- Linking attributes, benefits, and values
- Innovating value constellations
- Innovating outside your firm
- Designing around the customer's need with customer stars