Importance Of Service Innovation

1482 Words6 Pages
“Service Innovations: The Way Ahead” *Gagan Bhatia
Abstract:
Innovation, whether in terms of product or service or at an industry level is the key to an organization’s survival. As the competition is increasing by the day, innovation, more than ever before is the key to sustainability & profitability. The term service innovation is very tough to define. One of the most useful & broad definition comes from Finland’s research agency, TEKES. According to the research agency, “service innovation can be defined as a new or significantly improved service concept that is taken into practice.” Thus any new service concept implementation, falls under the purview of service innovations. It can be for example a new customer interaction channel,
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Thus, giving the companies involved & category per se, a huge untapped market to bank upon. The sectors discussed in the article are online grocery, online healthcare services sector & the online washing or laundry service sector. This article throws light & identifies the intricacies involved, the issues & challenges for the sustainability of such innovative e-sectors in the country.
The study deals with the growing demand for e-commerce in today’s world and how these online sectors are flourishing because of increased likeability by e-consumers.It throws light on the influencing factors that drive consumers towards purchases from the e-sector & also explains attributes which appeal to consumers while purchasing online.
The data regarding the service innovations discussed in the article has been collected by various sources such as books, websites, research journals, magazines & newspapers.
Keywords: service innovations, e-grocery, online healthcare, online
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Indians are also increasingly taking to mobile devices for not only search but shopping as well. The number of smart phone users is rapidly increasing in India and with 4G services about to take off it’s expected to get even more people going online. There are currently about 900 million mobile subscribers. Of these about 27 million are estimated to be active mobile internet users. E-service or e-commerce sector thrives on the active number of internet users in the country. As the number of internet subscribers is bound to increase in the developing economy, the industry has a huge potential to be unlocked.
Objective:
The objective of this article is to highlight the role of service innovations in areas like online grocery, pharma marketing & laundry services. This article determines& analyses the reasons behind a spirited takeoff of these product categories. The article also suggests & identifies strategies for improving these online service innovations, which slowly but surely are establishing themselves as game changers for the said sector.

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