[2013.06.06] The Winning Formula for SMEs is 'Product Servitization'

The Korea International Trade Association's International Trade Research Institute presented three types of product servitization strategies suitable for SMEs through its report titled "The Winning Formula for Successful SMEs is Product Servitization."

EPIC Systems, a digital door lock manufacturer, employs a "Product Sales-Creative Service" strategy by targeting overseas consumers through its own international shopping mall and PayPal payment system, connecting these to large-scale exports.

The report emphasized that with narrowing technology gaps between developed and developing nations and the rise of hyper-competitive markets with no industry boundaries, differentiation through servitization is essential for generating stable revenue. Three recommended strategies for SMEs were: Product Sales-Creative Service, Product Sales-Improved Service, and Service Sales-Creative Service.