Lexmark International is one of the world’s leading makers of computer printers had a problem. While slow to come around, the trend to the paperless office is real. That trend significantly reduced demand for printers. So Lexmark adapted — and offers its customers services to help them print less. Lexmark helped Coca Cola save $11 million over five years — and sold them 3800 new mostly Lexmark printers.
This article, “After a Jam, Lexmark Turns to Services” (Bloomberg BusinessWeek, August 26, 2010) provides examples for use when talking about goods and services or the product life cycle — as printers settle well into market maturity stage. It is also interesting to think about this change in the context of personal selling — where Lexmark no doubt had to change its personal selling strategy to a consultative selling approach.