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Vertical product differentiation can be measured objectively by a consumer. For example, when comparing two similar products, the quality and price can clearly be identified and ranked by the customer. If both A and B products have the same price to the consumer, then the market share for each one will be positive, according to the Hotelling ...
"Product Servitization" is a transaction through which value is provided by a combination of products and services in which the satisfaction of customer needs is achieved either by selling the function of the product rather than the product itself, by increasing the service component of a product offer, or by selling the output generated by the product. [18]
Verification is intended to check that a product, service, or system meets a set of design specifications. [6] [7] In the development phase, verification procedures involve performing special tests to model or simulate a portion, or the entirety, of a product, service, or system, then performing a review or analysis of the modeling results.
What is service design anyway? To truly understand how to answer this, we need to take a closer look at the relationship between product design and service design.
Service design is the activity of planning and arranging people, infrastructure, communication and material components of a service in order to improve its quality, and the interaction between the service provider and its users. Service design may function as a way to inform changes to an existing service or create a new service entirely.
The engineering design process, also known as the engineering method, is a common series of steps that engineers use in creating functional products and processes. The process is highly iterative – parts of the process often need to be repeated many times before another can be entered – though the part(s) that get iterated and the number of such cycles in any given project may vary.
Perception is not always reality. Consumers do not always have complete information about a product's or service's attributes; indirect measures may be their only basis for comparing brands. A product's durability for example, can seldom be observed directly; it usually must be inferred from various tangible and intangible aspects of the product.
Steam locomotives of British Railways had a thirty-year design life but all had a shorter service life in normal service. The design life of a component or product is the period of time during which the item is expected by its designers to work within its specified parameters; in other words, the life expectancy of the item.