Service innovation focuses on identifying customer desires in order to make services more user-friendly, sustainable, and meaningful. The consumer interface is the main priority. To know more details, visit us at : https://mitidinnovation.com/recreation/what-is-service-innovation-and-why-is-it-gaining-importance/

1. What is Service
Innovation And Why Is It
Gaining Importance
MITID Innovation

2. In the last decade, service
innovation has become increasingly
common as a means of constantly
improving current services and creating
entirely new ones. Read on to learn more
about what it means and why it's
becoming incredibly relevant and
important!

3. The innovative application of thought to the
delivery of utilities and services is known
as Service Innovation. Established
programmes can be enhanced, or entirely
new services can be created.
Consumer-centric: Service
innovation focuses on identifying customer
desires in order to make services more user-
friendly, sustainable, and meaningful. The
consumer interface is the main priority.
What Service Innovation is Exactly

4. Holistic: The premise behind holistic Service
Innovation is that the whole organisation is
engaged in the process. As a result, the
emphasis is not only on the customer-facing
touchpoint, but also on internal business
procedures and staff who are critical to the
service's operation.
Interdisciplinary:Customers and staff
collaborate in interdisciplinary, multi-disciplinary
teams. The team becomes engrossed in the
challenge and tries out various ideas.

5. In today's era, it is extremely difficult to think
of a company that does not function with the
help of digital tools.
Digital Innovation:These digital tools can
be enhanced and the phone provides better
results and increases the efficacy of a
business model.
Why is Accelerating Digital
Innovation Important

6. Service innovation is focused on an
iterative concept thinking approach in which
staff from various divisions collaborate with
the client in mind. A number of techniques
are used in the process:
Analysis: Qualitative and quantitative
research approaches to better appreciate
staff and clients in the service setting.
Service Innovation: Iterative
Method To Develop New Services

7. Ideation: Strategies for generating new
ideas that are both creative and human-
centered.
Service prototyping: Methods for easily
and cost-effectively testing new technologies
before spending an obscene amount of
money on their growth.
The first step in the Service Innovation
process is to conduct research to determine
what kind of service future consumers will
want.

8. According to the Global Innovation
Barometer, CEOs have said that 40% of the
innovations that have been incorporated by
the workforce have had a positive impact.
Interdisciplinary teams generate concepts
and design the first utility design based on
this study. Usability, functionality, cost,
consumer reaction, and other factors are all
considered when prototyping. The new
service can only be introduced if these
experiments are successful.

9. Service innovation can be used to create
offerings that previously couldn’t meet
consumer demands, open up new market
opportunities, and help an organisation
stand out from the competition. According to
PwC’s Innovation Benchmark, 61% of the
people and consumers in the study want to
generate new ideas with the help of
innovation.
Importance and Impact of Service
Invention

10. Customers are looking for satisfying user
interactions
The importance of emotional consumer
interactions is growing. Because of the
expanding opportunities and fast-moving
product and service periods, customers'
demands for the consumer experience of
services are rising.
Distinguishing oneself from the competition
In today's world, goods are often
interchangeable. Stocks are oversaturated.

11. For businesses today, defining and creating
distinctive selling propositions is more
critical than ever. Service
innovation enables businesses to create
superior service solutions, distinguish
themselves from the market over time, and
reach out to new client segments. To give
you an example, consider the following:
Consumers choose one of two shops if
they are similar to each other and both sell
the same items at the same price.

12. MIT ID Innovation Programme curates
knowledge and experiences that
challenge the very paradigm of evolution.
And that's why we have set out to define
the future of industries, communities,
cities and ecosystems. MIT ID Innovation
offers the best Courses in Innovation
and Design Thinking.
Conclusion

13. We’d love to
hear
from you.
MIT INSTITUTE OF DESIGN
Rajbaug,, Loni-Kalbhor, Pune-412201
innovation@mitid.edu.in
+91-7038982225 / +91 9834092369