In order to stand out in a competitive environment, companies are forced to consider the development of new services. In the context of globalization changes, the development of new services is becoming an effective tool for adapting to the changing needs of consumers through the introduction of technological innovations or management solutions. By using service development models, companies create favourable environment for generating and selecting ideas, and can prepare more effectively for the deployment of a new service. After the critical evaluation of the new service development models, conceptual new service development model was formulated. The indicators of conceptual new service development model were presented, also the unique features were highlighted. The results of this research revealed that new service development models are perceived as an unbroken cycle, that includes additional tasks for business subjects, consumers and company employees.

DOI: https://doi.org/10.3846/bm.2018.34