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Book review: New Service Development and Innovation in the New Economy

  

“New service development: the process from idea to launch of a new service”

 “New service development is a modification of current services and or adaptation of the service that is already offered in another geographical market.” (Edvardsson, Gustafsson, Johnson, Sanden 2000).

 

 

 

 

 

 

Why is new service development so important?

Today´s business life is all about competition and Innovative service is the means that companies differentiate themselves from the current intense competitive market.  Companies are constantly trying to differentiate themselves from other players in market field. Previously markets have been really product/manufacturing oriented. Mainly all the tools are then developed towards this manufacturing idea so service innovation and new service development are poorly researched and understood areas.  But today´s business needs to take these things into consideration in order to survive. In order to develop new ideas companies need new tools for their work.

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