Creating Enduring Customer Value

 From Journal of Creating Value


Prevailing business practice and philosophy of value creation and value delivery have evolved significantly over the last seven decades. Post the Second World War, the focus of businesses was product centric. This was because the war shrank the manufacturing capacity for consumer goods worldwide either through destruction or shift of capacity to wartime production. Thus, demand exceeded supply, and the managerial focus was on manufacturing, supply chain and outsourcing. This imbalance gradually improved as manufacturing capacity was rebuilt and businesses proliferated.

Producers recognized that they had to adapt to the changing landscape and become more competition centric. Starting with consumer durables such as automobiles and appliances, the marketing emphasis shifted towards segmenting the market and promotion of value to inform the consumers why the offering is their best choice.

Today, despite a pandemic, supply far exceeds demand for most categories, especially in emerging markets. Competition is intense, and businesses cannot afford to be not customer centric (Sheth, Sisodia et al., 2000). Some firms even focus on segments of one, offering customization for each consumer.

While significant progress has been made to accurately value customers, it is worthwhile to remember that value creation is a special case of value co-creation where one party is dominant. In practice, the vast majority of all value is co-created, yet measuring co-created value presents even more significant challenges. Unlocking total value creation requires resolving the tensions within the organization of different functions such as R&D and finance and aligning objectives. For example, awareness, affordability and accessibility are commonly attributed to the marketing function; acceptability, education, activation to the sales function; and reinforcement, retention, and responsiveness to the customer support organization.

In this article, we define and discuss value, the roles of the customer and their varying interests in different types of value and 10 processes through which businesses create value. We conclude with pertinent research questions to advance theory and practice for creating enduring customer value.


Comments

  1. Thanks for sharing this site. It is amazing information on this site. I like this article. Dating Coach For Men

    ReplyDelete
  2. Unsere Kunden fragen sich oft, ob sie mit ihren Sexpuppen duschen können. Also wollten wir es auf die Probe stellen und haben ein wenig recherchiert, um herauszufinden, ob man mit einer Sexpuppe duschen kann und was man vorher beachten muss.

    ReplyDelete
  3. This comment has been removed by the author.

    ReplyDelete
  4. This is wonderful information. Thanks for sharing this information.
    < ahref="newmehndi.com"> New Mehndi Designs

    ReplyDelete
  5. < ahref="newmehndi.com"> New Mehndi Designs

    ReplyDelete
  6. < ahref="newmehndi.com">New Mehndi Designs

    ReplyDelete
  7. This is wonderful information. Thanks for sharing this information.
    New Mehndi Design

    ReplyDelete
  8. This is a wonderful information on this site. Thanks for sharing this site.

    ReplyDelete
  9. The last thing you want is to spend enough time working on an assignment and submit it back to it before the due date.

    ReplyDelete
  10. There are some things you should keep in mind when you're searching for a massage near me.

    ReplyDelete
  11. We all deserve to receive a Massage near me from trained professionals of this calibre. Nonetheless, the majority of Chennai residents seeking a male to female body massage travel to Goa or Bangkok instead. Massage near me

    ReplyDelete
  12. Wow, your article the really nice and very helpfull for online business man and this very helpful for me because I am also a online business man. we provide the best online digitizing service check it now.

    ReplyDelete
  13. Healing work has been closely connected to theBuddhist wats of Thailand for centuries. Thaimassage demonstrates the Four Divine body massage near me States ofMind: Loving Kindness, Compassion, Vicarious
    Joy, and Equanimity.

    ReplyDelete
  14. n. If you question whether or not you should massage a client or specific area, do not do so until you have further clarification from another health care professional.

    ReplyDelete
  15. Mechanical effects are those that are directly nuru massage in hyderabad caused by the massage application.

    ReplyDelete
  16. I would highly recommend body to body massage spa near me here staff was friendly and professional, and they provided a wide range of massage techniques to choose from. The prices were reasonable, and the facility was clean and well-maintained.

    ReplyDelete
  17. Endorphins are a class of neuropeptides body to body massage spa near methat act on the nervous system to reduce pain and increase euphoria

    ReplyDelete
  18. It is one of the first massages ever to be known body to body massage by mankind. It goes way back to Egyptian times.

    ReplyDelete
  19. Buy Ozempic (Semaglutide) 2 mg/1.5 ml Online in the USA - Insulin store
    Ozempic (Semaglutide) 2 mg/ 1.5 ml is sold in a convenient form of a single-use injection pen. It allows selecting the needed dosage of the product right before the semaglutide injection (0.5 mg, 1 mg, 1.5 mg, or 2 mg). Thus, patients treated with Ozempic might be sure that they administer the correct amount of the product during each injection.
    Buy Ozempic online without prescription
    buy stromectol online without prescription

    ReplyDelete
  20. Back Pain: Addressing fascial restrictions in the back can be beneficial for individuals experiencing back pain.

    ReplyDelete
  21. Massage practices like Swedish massage, deep tissue massage, Thai massage, and many others have well-documented benefits and are generally considered safe when performed by trained practitioners.

    ReplyDelete
  22. A face massage can help improve a person's circulation. When blood circulation is poor, muscles often have a decrease in the level of nutrition resulting in an increase in fatigue.

    ReplyDelete
  23. When tension is released, there is a very female to male body massage in hyderabad high possibility of renewing your entire being after the massage session.

    ReplyDelete
  24. it just me, or does it seem like everywhere nuru massage in pune you turn these days, there's a new type of orgasm everyone is buzzing (literally and figuratively)

    ReplyDelete
  25. The practice of healing has long been associated with Thailand's Buddhist wats. Thai massage exemplifies the Four Heavenly spend elon musk money

    ReplyDelete
  26. Izspa is safest place to enjoy your spa life with world class facilities offers are going on daily for long duration therapies.

    ReplyDelete

Post a Comment