servitization strategy

Servitization is a business strategy where a company shifts from just selling products to providing integrated services that add value for customers. Instead of only offering physical goods, the company delivers ongoing support, maintenance, or solutions tailored to customer needs. This approach strengthens customer relationships, creates recurring revenue, and differentiates the company in the market. For example, an industrial equipment manufacturer might offer maintenance and monitoring services along with their machines, turning a one-time sale into a continuous service relationship. Overall, servitization focuses on creating more comprehensive, value-added offerings beyond just products.