Innovation in Experiential Services

Abstract

Experiential services are growing within the service economy. In these companies, the focus is on the experience of the customer, rather than just the functional benefits delivered. These types of services are often designed from the perspective of the customer's journey rather than as a single transaction; the services are seen as a journey that spans a longer period and consists of multiple components and multiple touch points. Therefore, these types of services have specific characteristics with implications in strategic decisions and innovation management. It is relevant to question how the usual innovation concepts, typologies and models apply to these industries, and because most of these industries usually operate worldwide, innovation management must consider this. The purpose of this chapter is to analyze innovation in experiential services with a focus in internationalized companies, as this poses challenges such as the dichotomy between standardization and local adaptation of services.