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Problem

Explain why the growth opportunities for many firms, such as IBM or GE, are far greater in services than they are in products.

Step-by-step solution

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Step 1/2

Customer experience management is a process where the customer of a firm is given more importance and tries to maximize their satisfaction level. A firm should identify the gap between customer expectations and actual experience.

Step 2/2

The firms like I and G were found more towards service excellence than products. It is found that their service sectors are growing dramatically than their product wings. The main reason behind this is that these firms follow a solution-centered perspective. They dig out the customer problem and then identify which product or service is best for their problem as the solution. Their focus is on interaction rather than transaction-based. They give co-create value for the customer by offering an integrated product that is associated with services that are specially designed for the customer experience. This helps firms like I and G to attain competitive advantage and profitability. This is why their growth opportunity is great in services than products,