Sure, here are examples of a product successfully transformed into a service and vice versa:
Product to Service Transformation: Example: Netflix Initially, Netflix started as a product-based company, renting out DVDs through mail delivery. Customers would select DVDs online, and they would receive the physical DVDs in the mail. However, they successfully transformed their business into a subscription-based streaming service. Instead of mailing DVDs, customers could now access a vast library of movies and TV shows instantly via the internet. This transformation allowed Netflix to tap into a much larger market and change the way people consume media.
Service to Product Transformation: Example: Dropbox Dropbox began as a cloud-based file-sharing service, allowing users to store and share their files in the cloud. Over time, they recognized the potential to transform their service into a product. They created a user-friendly application that integrated seamlessly with users' devices and desktops, offering easy drag-and-drop file synchronization. This transformation turned the service into a tangible product with a distinct software application that users could download, install, and use independently of the web interface.
It's important to note that these examples are based on information available . Transformations in the business world are ongoing, and companies continue to evolve their offerings to meet changing customer needs and technological advancements.