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A Framework for Value Co-creation through Customization and Personalization in the Context of Machine Tool PSS

By Pankaj U. Zine, Makarand S. Kulkarni, Rakesh Chawla and Arun K. Ray

Abstract

AbstractIn this paper, a hybrid PSS business model is considered for discussing the framework for value co-creation through customization and personalization. The framework consists of a business model, an engagement model which leads to value creation through customization, and a detailed service execution plan which offers opportunities for value co-creation through co-design, co-production and co-delivery, leading to personalization. The conventional approaches for PSS design do not explicitly address the aspect of customization and personalization through co-creation activities. The expected benefits for the provider and other stakeholders will be in terms of knowledge co-creation and ensuring enhanced customer experience through personalization

Publisher: Elsevier B.V.
Year: 2014
DOI identifier: 10.1016/j.procir.2014.01.005
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