Developing Customized Innovative Business Models for Shape Memory Technology

Due to ongoing globalization, manufacturing companies are increasingly facing new challenges for which new business models are required. Nowadays, just selling products is not sufficient to provide customer value and thus to stay in business. In order to stay competitive, the integration of services can be a solution. Therefore, an approach is presented which integrates products and services into a new service-oriented business model. The development of the approach is based on an extensive literature research and emphasizes new aspects about business models. The example of a result-oriented business model for shape memory technology based on the results of qualitative interviews has been chosen to illustrate this approach.