Learning to discover value: Value-based pricing and selling capabilities for services and solutions

Raja, Jawwad Z.; Frandsen, Thomas; Kowalkowski, Christian; Jarmatz, Martin

doi:10.1016/j.jbusres.2020.03.026

Cited by 59 publications

(61 citation statements)

References 61 publications

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“…Cost management mainly focuses on three significant areas: impact on the revenue stream, growth, and profitability. A brief description of financial measures is used to assess a firm's economic performance [136,137].…”

Section: Linking Servitisation and Cementioning

confidence: 99%

“…Limited studies have assessed the legal and regulatory policies and performance connected with the key variables (I4.0, servitisation, and CE). The desire for growth is one of the vital drivers for organisations, along with underlying motivations such as internal drivers that depend on the leadership strengths like an organisation's culture, the capability to change, and identifying opportunities [80,104,110,129,133,134,136,137,161]. However, it is not clear from the analysis of the finalised papers what legal risks may occur during any transformation, how companies will manage them, or how they will affect a firm's performance.…”

Section: Impact On Growthmentioning

confidence: 99%

“…Another important instrument is the profitability of a business that generates working capital [137]. Existing literature suggested various indicators that are positively associated with innovation in a firm [163], such as shared sustainable goals [165], development and redesigning processes and operations [164,166], and addition of service-package element with products [167].…”

Section: Impact On Profitabilitymentioning

confidence: 99%

See 2 more Smart Citations

Towards a Conceptual Development of Industry 4.0, Servitisation, and Circular Economy: A Systematic Literature Review

et al. 2021

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Industry 4.0 (I4.0) technologies have been highlighted in recent literature as enablers of servitisation. Simultaneously, businesses are advised to implement a circular economy (CE) to bring new opportunities. However, it is pertinent to mention that little attention has been given to assess the role of I4.0 in adopting the CE and servitisation in a fully integrated manner. This research fills this gap by developing a conceptual framework through a systematic literature review of 139 studies investigating the relationship between the I4.0, CE, and servitisation. This study identifies the impact of these variables on a firm’s operational and financial performance (revenue stream, growth, and profitability). Our research findings advocate that adopting I4.0 technologies to the business and manufacturing model enables sustainability, energy and resource efficiency while enhancing performance and offering innovative products through smart services. Thus, firms must systematically adopt I4.0 technologies to support a CE model that creates value through servitisation. This study identifies the research gaps that are unexplored for practitioners and future researchers while providing insight into the role of I4.0 in implementing CE in the servitisation business model.

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Section: Linking Servitisation and Cementioning

confidence: 99%

Section: Impact On Growthmentioning

confidence: 99%

Section: Impact On Profitabilitymentioning

confidence: 99%

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Towards a Conceptual Development of Industry 4.0, Servitisation, and Circular Economy: A Systematic Literature Review

et al. 2021

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“…Based on Tukker [44] and Kowalkowski and Ulaga [15], there are different classifications for the services, and these provided classifications of the different revenue models. A study by Raja et al [45] gives a framework to discover value within systems where advanced services and solutions are developed to provide innovative value propositions based on a learning process. The move to digital solutions and the innovative value propositions they can create is described by Taylor et al [46]; nevertheless, in an asset-intensive environment as in this study, the work of Kowalkowski and Ulaga [15] and Raja et al [45] remains valid.…”

Section: Classification Of Products and Services With A Digital Contextmentioning

confidence: 99%

Digital Twin Providing New Opportunities for Value Co-Creation through Supporting Decision-Making

et al. 2021

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The application of digital twins provides value creation within the fields of operations and service management; existing research around decision-making and value co-creation is limited at this point. Prior studies have provided insights into the benefits of digital twins that combined both data and simulation approaches; however, there remains a managerial gap. The purpose of this paper is to explore this research gap using input from a multiple case study research design from both manufacturing environments and non-manufacturing environments. The authors use ten cases to explore how digital twins support value co-creation through decision-making. The authors were all involved in the development of the ten cases. Individual biases were removed by using the literature to provide the assessment dimensions and allowing a convergence of the results. Drawing on the lessons from the ten cases, this study empirically identified eight managerial issues that need to be considered when developing digital twins to support multi-stakeholder decision-making that leads to value co-creation. The application of digital twins in value co-creation and decision-making is a topic that has developed from practice and is an area where a research gap exists between theory and practice. A cross-case analysis was developed based on the literature and the ten cases (eight industrial and two pilot-scale cases) providing the empirical findings. The findings describe how firms can design, develop, and commercialize digital-twin-enabled value propositions and will initiate future research.

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“…Much have been written about B2B companies’ service-growth strategies as solution offerings have mushroomed in a broad cross section of industries such as automotive manufacturing, aviation, health care, and telecommunications. Concomitantly, research on B2B customer solutions has emerged as an attractive subarea in both academic and practitioner journals (e.g., Eggert et al 2014; Tuli, Kohli, and Bharadwaj 2007; for important recent advances, see Colm, Ordanini, and Bornemann 2020; Macdonald, Kleinaltenkamp, and Wilson 2016; Raja et al 2020; Ulaga and Kohli 2018; Worm et al 2017).…”

Section: Customer Solutions: a Rich Research Domainmentioning

confidence: 99%

The Future of B2B Customer Solutions in a Post-COVID-19 Economy: Managerial Issues and an Agenda for Academic Inquiry

Bond

Jong

Eggert

et al. 2020

Journal of Service Research

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Customer solutions have been touted as the next service-growth engine. Yet, pursuing a solutions strategy can seriously backfire in times of severe crises. The massive economic shock wave brought on by the recent COVID-19 pandemic challenges some of the presumed advantages of business-to-business customer solutions and reveals downsides of these complex offerings to which academics and managers alike may have given insufficient attention. This editorial focuses on goods-centered companies’ recent foray into the solution business and the pressing managerial questions regarding the evolution of solutions as the world begins to emerge from the COVID-19 pandemic. Based on the key characteristics of solution offerings, we identify seven potential downsides of customer solutions that are revealed by the current global crisis and develop promising research avenues mirroring these challenges. In each area, we propose three illustrative sets of research questions that may guide scholars and provide insights to practitioners for positioning solution businesses in the post-COVID-19 “next-normal” world.

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Learning to discover value: Value-based pricing and selling capabilities for services and solutions

Cited by 59 publications

References 61 publications

Towards a Conceptual Development of Industry 4.0, Servitisation, and Circular Economy: A Systematic Literature Review

Towards a Conceptual Development of Industry 4.0, Servitisation, and Circular Economy: A Systematic Literature Review

Digital Twin Providing New Opportunities for Value Co-Creation through Supporting Decision-Making

The Future of B2B Customer Solutions in a Post-COVID-19 Economy: Managerial Issues and an Agenda for Academic Inquiry

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