Introduction

As mentioned before, service strategy is one of the most important focal points in the service lifecycle. The reason is that service strategy differentiates one service provider from another. This difference makes one IT service/service provider more unique and is also the reason a group of customers is more attracted to one enterprise than the other.

Now, considering industrial disruptions and the rapid rate of innovations, one service strategy cannot last in the long run to give a competitive edge to a particular enterprise. For this, new strategies must be generated regularly. The service strategy manager overlooks and monitors this process.

What is ITIL?

ITIL is an infrastructure that provides a set of best practices for IT services. It gives accurate guidance and information on which mix of services would fulfill their requirements and has top-grade quality. The service lifecycle of ITIL begins with service strategy, which leads the firm into ensuring the design, transitioning, and operations of the IT services in a manner that fulfills customer needs and has a competitive edge in the market.

How is a new service strategy generated?

The four main stages fulfilled during strategy generation are:

• Finding the market definition: Before making a strategy, it’s highly pertinent to know what’s already available to the customers and their tastes and preferences. Releasing products that have identical functions and features is difficult to sell to customers. Thus, research and surveys are required to understand what’s available and where new IT services are needed.
• Knowing what to offer: When the provider has enough data, it can develop a service portfolio of IT services offered to the customers in a profitable position.
• Strategic assets: Technology and machinery needed for making the IT services are listed in the service portfolio. These usually are not current assets and aid in the formation of more than one IT service.
• Preparing for the implementation of the new strategy: Now that the services are ready to launch, the company prepares a service catalog and tests certain success factors to know if such products fulfill the end goal of ITIL. It is released after all the tests, and the perfect market segment is targeted.