In today’s world, consumers have access to all product and service information right at their fingertips. In order to maintain a competitive advantage, companies must differentiate themselves with the types of services that they can offer. This can be achieved through the use of technology.
Traditionally, companies within the energy sector offered a limited number of products with set prices for consumers to choose from. There was no flexibility among their products or prices. Despite the fact that these models satisfied consumers for decades, this business model is no longer sustainable. Why? Trends in increased environmental awareness as well as control over spending have shaped consumers’ interests.