Here we have listed some of the various Types of Service Innovation. Have a look to know in detail. For more details, visit : https://mitidinnovation.com/recreation/what-are-the-types-of-service-innovation/

1. What are The Types of
Service Innovation
MITID Innovation

2. In the digital world, several service
businesses are finding their growth
prospects and bottom lines under threat.
One of the primary reasons is the popping
up of digital upstarts that take advantage of
technology updates and data about
consumer behavior. Using the data, they
create customer-friendly and innovative
services as compared to the existing ones.
Services innovations have become pretty
common across all industries.

3. Simply put, it modifies the way a
company serves a customer. Various
types of service innovation have been
taking place for quite some time. A few of
the most path-breaking service
innovations are:

4. ICICI Bank has launched an application that
makes use of voice recognition technology.
The above service innovation was introduced
to ease the banking process for its
customers. Thus, the customers can
complete their transactions using their voice.
The application has been tested for security
as well. To take advantage of the hands-free
banking service, all the customers need to do
is register their voice in the ICICI database.
Voice Recognition Banking

5. Several organizations have implemented
AI-powered chatbots to improve the
customer experience. It could work as a
pop-up that appears on their website or
dedicated chat service. The chatbots have
been modified to suggest recommendations
to the customers and solve some of their
basic queries. As per research, more than
70 percent of individuals have had a
satisfactory experience with chatbots.
AI Powered Chatbots

6. Through an interplay between several
different actors, Uber has managed to
impact the value chain like no other
service innovation. The ability to choose
a cab from a set of options without
having to step out of your house has
been popular among its users.
Uber

7. It has been a breakthrough in terms of
service innovation. Similar to Uber,
Airbnb has managed to venture into a
business that couldn't have been
thought of a couple of years back. With
its service innovation, not only has
Airbnb managed to build a significant
market share, but it has also offered a
unique experience to its customers.
Airbnb

8. It is one of the most creative types of
service innovation that you will get to see.
The AmazonSmile program was a refresher
and donated 0.5% of all the sales on
smile.amazon.com. The users would get to
choose an organization where they would
want the donation to be made. It is one of
the most simple innovations as all other
products and prices remain the same as the
Amazon website.
AmazonSmile

9. The definition of service innovation might
vary from person to person. However, the
goal remains constant - to generate value
for the customers and improve their
customer experience. Be it organizations
like Apple who have revolutionized how
we consume music, or Heineken, all of
them have managed to build their brand
equity using various types of service
innovation.

10. Applications like Bounce and Drivezy have
allowed customers to have the flexibility of
using a motorcycle or a car without having
to own one themselves.
We can see how service innovation can
help organizations in customer retention
and customer acquisition. However, it might
not be as easy it seems. A professional
course in service innovation will help you
develop the creative mindset to come up
with innovative solutions.

11. MIT ID Innovation is a market leader in
India when it comes to innovation courses.
The comprehensive course structure
ensures that you are well-prepared to
tackle the nuances you might encounter
while working in the corporate structure.
You can browse through our website to
know more about our courses.

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 Innovation Courses in
Pune.
Conclusion

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