Question

Question 1:

Explain and comment the following statement: “Service value creation can go beyond the interaction between the service providing company and the end customer”.

Answer 1

Answer : before we explain and comment on the above statement lets first know the meaning of the basic term first i.e. service value creation. service value creation refers to all the actions a services provider does to enhance the value and worth of the service being provided to the customer.

as the statement goes “Service value creation can go beyond the interaction between the service providing company and the end customer”, service value creation has lot to do then basic selling of goods and services. in service industry, customer satisfaction takes lots more effort than in product industry as service is intangible. so it is very essential that the services worth i.e. what a customer gets as a service is enhanced and satisfaction level is increased. and for this regular interaction i.e. service providing and taking payment for it isn't enough. feedback, to improve the service experience, resolving any issues with regards to service as soon as possible, practicing empathy so that service provider can understand customer and their needs, providing extra related small services to enrich the main service experience will definitely improve the value of the services. the service provider has to go extra mile to achieve value creation.