A Deep Dive into the Aftermarket Dynamics – Insights from Harvard Business Review’s ‘Winning in the Aftermarket

We Came across an insightful report Highlighting the criticality of having a relentless innovation and efficient aftersales service network. This report is from Harvard Business Review’s “Winning in the Aftermarket”.

We at #IMU #Tech #Services Take pride in integrating both for the success of our #OEM Partners with our reach in #766 #Districts of India.

Here is a glimpse of the report.

This is the golden age of services, and to survive and prosper, we’re told, every company must transform itself into a services business. Executives swear by that services-centric view of the world, but privately, they admit to one niggling concern: Most companies either don’t know how or don’t care to provide after-sales services effectively. Top management the world over treats aftermarket services as a mere afterthought.

But ignoring the promise of after-sales services is imprudent, to say the least. Since the early 1990s, companies in North America, Western Europe, and Japan have stopped pushing products and started delivering the value that customers get out of using those products. They changed tack because demand slowed, competition intensified, and profit margins imploded. As businesses began offering solutions instead of products, it became evident that selling spare parts and after-sales services—conducting repairs; installing upgrades; reconditioning equipment; carrying out inspections and day-to-day maintenance; offering technical support, consulting, and training; and arranging finances—could be a bountiful source of revenues and profits as well.