1) What is Servitization?
At Ignite we understand Servitization as a strategic innovation process. As Vandermerwe and Rada (1988) define it: The process “in which companies consciously develop service offerings that support their products to gain competitive advantage. By adding services to core products already supplied firms differentiate their offering from competitors, increasing customer dependency and establishing barriers to competition”
According to some sources, like The Economist, Servitization is the base for the current Industrial revolution.