How a product or service can

Traveling Spoon is a food tourism platform that connects travelers with local hosts who prepare homemade local cuisine in their homes.

service product concept

This extra service is an integral part of the augmented product and a key to their success. TaskRabbit is a market of service providers and clients in the offline space. John Deere equips its agricultural equipment with remote sensors to collect data on weather and soil conditions and use analytics to help farmers improve crop yields.

what is a service product in marketing

For example, when all boom boxes played tapes and CDs, the one with the bass booster stood out even though the benefit to the consumer was minimal. Other technologies such as prognosticshealth management and cyber-physical systems have further created service innovation technologies for PSS.

How to market a product or service

For example, when all boom boxes played tapes and CDs, the one with the bass booster stood out even though the benefit to the consumer was minimal. Features and Attributes of a Product The features and attributes of a product are integral to the product design process, which in turn assists in the creation of new products. Literally every product contains these components to a greater or lesser degree. Also, the product should be related to the purpose, or mission, of your business. The manufacturer can monitor the product remotely and apply predictive analytics to the captured data to identify and address mechanical problems or find opportunities to offer new products and services to the customer. Notable challenges exist in the regulatory space for AirBnB in locations like New York, where unregulated guest housing and hotel services are an issue. With 87 tools and different functions. You Need More than a Good Idea Just because it seems like a great idea doesn't mean that it can become a product. Product as a service has also been touted as a potential revenue boon because the need for aftermarket service extends throughout a product's lifecycle, with revenue that can surpass the earnings from selling the product. In other scenarios, the customer owns the product but is not responsible for maintenance, or such responsibilities are divided according to the license agreement or warranty.

Just like products, services differ from one another in having distinctive features and benefits, though these differences may not always be so obvious to potential customers. Other services have less to do with the product itself and more with how the data it collects can help the customer in their business or personal life.

Ways to promote your product or service Factsheet Ways to promote your product or service Share on: Save this document You must first be logged in to save this document.

product as a service wiki

Types[ edit ] There are various issues in the nomenclature of the discussion of PSS, not least that services are products, and need material products in order to support delivery, however, it has been a major focus of research for several years.

Speaking to people about your business can be one of the most effective ways of promoting your product or service. Please help improve it or discuss these issues on the talk page. Although benefits are generally more important than features, there are some times when features make all the difference: When all the products in a category provide the same basic benefits, a unique feature may provide a competitive advantage.

These include a variety of platforms serving different markets and niches. As another example, when all leadership consultants referred to similar performance improvement outcomes, the ones who developed online diagnostic tools distinguished their work from competitors.

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Knowing your products and services