'Servitization' Is

question 7

Multiple Choice

'Servitization' is:

• A)A training course for sales staff
• B)A term used to describe shifting from a business model in manufacturing focused on creating and delivering products to one which stresses customer value through wrapping services around core products
• C)A phrase used to describe Amazon's business strategy
• D)A software feature in new cars

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Definitions:

Probability

A quantification of the chance that a specific event happens, represented as a number ranging from 0 to 1.

Poisson Approximation

A methodology in statistics used to approximate the probability of a given number of events happening in a fixed interval of time or space.

Probability

The measure of likelihood that an event will occur, expressed as a number between 0 and 1.

Random Variable

A variable whose values depend on outcomes of a random phenomenon. It can be discrete or continuous.