At Stage 4 of Service Innovation, the Highest End of Innovation

question 5

True/False

At stage 4 of service innovation, the highest end of innovation maturity, firms integrate the services dimension as part of their total offer. Known as servitization, this involves the provision of a bundle of goods-service solutions over the life cycle of their customers, 'from cradle to grave'.

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Definitions:

Excess Supply

A situation where the quantity of a good or service supplied is greater than the quantity demanded at the current price.

Sunglasses

Eyewear designed to protect the eyes from excessive sunlight and harmful ultraviolet (UV) rays.

Unregulated

Not controlled or governed by rules or laws set by any governing body or authority.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price within a specific time period.