Product development is generally a weak area for Service Sector
with exception of few businesses value chain unlike in manufacturing sector. Service
sectors give lot of importance in execution / delivery than focussing on the
Product Development.
The following are some of the Challenges
/ Weaknesses in Product Development in Service / Transactional Sector:
1. Lack
of product development structure
2. Lack
of Product development life cycle process
3. Lack
of skill sets within the organization
4. Little
or no information about the Customer touchpoints, pain areas and linkage with
internal processes/ systems
5. Service
product designer not having enough visibility or clarity of processes which deliver
the product / service to the customer post product launch.
6. Lack
of product innovation in delivering value to the customer
7. Lack
of digitization in the customer offerings (except few sectors like banking, insurance
etc.,)
8. No or little clarity on the stages of product
development
9. Lack
of engagement with internal stake holders (especially the internal stake holders)
and their requirements affecting the product
10. Finally,
Lack of clarity between What is a Process? and What is a Product?
There can be many and finer list of
challenges / weaknesses in service sector one may wish to add. I have listed
the above challenges based on my experience and exposure to process design both
in Service and Manufacturing Sectors. Certainly, the challenges are very different
in the service sector.
In my next post I wish to share the
best practice in product development process.
Please leave your comments and
experience in the comments section below for the benefit of readers and
learning from your experience.
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