Biography: Lance Bettencourt brings a combination of academic rigor and practical insight to the innovation process. A former professor of marketing at Indiana University, he is an expert in product …
Biography: Lance Bettencourt brings a combination of academic rigor and practical insight to the innovation process. A former professor of marketing at Indiana University, he is an expert in product and service innovation, marketing strategy, and research design and analysis. His new book, Service Innovation: How to Go From Customer Needs to Breakthrough Services, was released in June 2010.
As a strategy adviser, Lance has supported innovation initiatives at some of the world’s leading companies. And with his background in academics, he is a natural for teaching training through the Strategyn Institute, the firm’s educational arm. Lance serves as a teacher / mentor, provides customized education programs, and develops customized executive education programs. In both roles, he has worked with many of Strategyn's clients including Microsoft Corporation, Colgate-Palmolive, Hewlett-Packard Company, TD Bank Financial Group, Kimberly-Clark, Abbott Medical Optics, Chiquita Brands, and Ethicon Endo-Surgery, Rockwell Collins, Neenah Paper, Trend Micro, Masco Corporation, Covidien, Hospira, American Medical System, Ingersoll-Rand, and Pershing.
Lance has published dozens of articles on marketing strategy and innovation in both academic and practitioner publications. Recent contributions include “Debunking Myths About Customer Needs,” (Marketing Management, January-February 2009), “The Customer-Centered Innovation Map” (Harvard Business Review, May 2008), “Giving Customers a Fair Hearing” (Sloan Management Review, Spring 2008), and “Client Co-Production in Knowledge Intensive Business Services” (California Management Review, Summer 2002).
Personal: I’ve been married for 15 years, with four children. I’m an Indiana Colts season ticket holder. My personal goal is to be on The Amazing Race.
Surprise Factoid: I love bowling! I carry a 192 league average.
Quote: Everything should be made as simple as possible, but not simpler. – Einstein
Good for the Soul: I love to laugh and make people laugh. I can think of few things in life that are more important than the relationships you develop with others.
Lance Bettencourt, author of Service Innovation: How to Go From Customer Needs to Breakthrough Services, has a passion for services. For decades he was an academic in services marketing and management. Now, an experienced strategy adviser for Strategyn, he realized that there was not much written about service innovation.
So he wrote this book. Bettencourt outlines a framework that operational managers can easily understand and use to implement.
Bettencourt approaches service innovation by declaring the four truths of services. These truths are in line with the service dominant logic of marketing.
Customers hire products and services for completing a job.
Customers hire solutions to accomplish distinct steps in getting an entire job done.
Customers use outcomes to evaluate success in getting a job done.
Customers have distinct needs that arise related to the “consumption” of a solution.
Or as the author outlines:
“Customers do not buy goods or services; they buy offerings which renders services which create value……The shift in focus to services is a s shift from the means and the producer perspective to the utilization and the customer perspective.”
These approaches, assert Bettencourt, mean that “a company is forced to think about service innovation from multiple valuable perspectives,”adding that the approaches can overlap yet still yield economic results. As Michael Porter has contended, “In general, value is destroyed if an activity is overdesigned or underdesigned for its use”.
In his – sound and clear analytical – approach Bettencourt identifies four ways of service innovation:
Core Job – a specific job requested by customers
Service Delivery — how customers obtain the benefits of a service