Creating new market for industrial services in nascent fields

Purpose – In recent years, industrial firms have been moving from selling pure products to selling smart services. Yet limited empirical evidence exists about how the new markets for these novel services are created. This paper seeks to extend current theory and create new insights by studying the new services market creation process in nascent industrial fields.Design/methodology/approach – The authors' research design is a multiple‐case, inductive study that uses in‐depth archival and field data to track closely how five industrial firms created new market for new types of services.Findings – The authors find that firms adopt a holistic initiative to address the challenges in new services market creation. In particular, they use three interrelated strategies to create a new market: co‐creating with customers, innovating in different ways and exploiting institutional forces.Research limitations/implications – The study focused only on life science research services. Moreover, in‐depth field interviews we...

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