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Purpose The context of marketing and service research is rapidly changing as a result of advances in academic research and business practice. This has implications for our understanding of customer value. The purpose of this paper...
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Purpose The context of marketing and service research is rapidly changing as a result of advances in academic research and business practice. This has implications for our understanding of customer value. The purpose of this paper is to provide an update on customer value given today's context (including recent advances such as technologies, human contact, collaborative consumption, service ecosystems and transformative service research); to revise Holbrook's value typology; and to propose a research agenda. Design/methodology/approach This paper uses a conceptual approach that is rooted in the service and marketing literature. Findings The contribution of this paper is threefold. First, this paper presents an evolved view on customer value which accounts for recent advances in academic research and business practice. Second, this paper updates Holbrook's value typology by revising existing value types as well as identifying additional value types; and offers guidelines for measuring and modeling customer value. Third, this paper proposes a research agenda to guide and stimulate future value research. Originality/value This paper provides an update on customer value, which is one of the most fundamental concepts in service and marketing research. This updated perspective has been approved and applauded by Morris B. Holbrook, one of the founding fathers of value research.
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Value Management is a team based methodology, and founded on the technique of function analysis. Value can be increased either by increasing the benefits or by decreasing the cost. Value analysis is a proven management technique f...
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Value Management is a team based methodology, and founded on the technique of function analysis. Value can be increased either by increasing the benefits or by decreasing the cost. Value analysis is a proven management technique for functional balance between the cost, reliability and performance of a project and thus increasing the value, and reducing the cost without sacrificing the function. The construction cost of building is also increasing because of increase in cost of construction materials. Architects are giving more importance to the aesthetic points than its functional utility. It is observed that the number of components of the buildings do not perform the needed functions satisfactorily. It creates practical difficulties in the use of the components. The aesthetic components having more cost and least use. Therefore, building components should meet all the requirements fully neither more, nor less and that to at the least possible cost. The paper highlights a case study of the Girls Hostel Building for Engineering college to demonstrate the application of value analysis. The superstructure items and interiors of the building are considered for value analysis. For this analysis, team called value engineering team was formed. The objective of this paper is to evaluate users' requirements and finding out unnecessary cost involved in different building items without affecting the basic function of the item. Suggested ideas can be utilized for different buildings for further study.
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Current marketing philosophy is value-oriented, whereas marketing theory explaining value from the consumer perspective is limited. The theory of consumption value (TCV) is a marketing theory that provides insight into the motivat...
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Current marketing philosophy is value-oriented, whereas marketing theory explaining value from the consumer perspective is limited. The theory of consumption value (TCV) is a marketing theory that provides insight into the motivation for consumers' consumption behaviour through consumption values. Although it offers theoretical explanations about consumer behaviour on a large scale, there is no single article in the literature providing comprehensive and integrated knowledge of TCV and a future research agenda based on a systematic literature review. The main aims of this paper are to present integrated knowledge and provide propositions for future research. This review research covers peer-reviewed journal articles that used this theory and were published between 1991 and 2020. The major findings in the review demonstrate that this theory has remained up to date in the consumer behaviour literature, has been dynamic and has been comprehensively used to explain choice behaviour. Thus, further understanding has been provided for consumer behaviour related to drivers of consumption, although some issues require further examination. Directions for future research are developed in more detail to encourage and advance the understanding of value through TCV.
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This article presents and illustrates a novel value-based well-being framework, derived from service-dominant logic notions of the link between value and well-being. Based in a wide range of disciplines, this framework links well-...
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This article presents and illustrates a novel value-based well-being framework, derived from service-dominant logic notions of the link between value and well-being. Based in a wide range of disciplines, this framework links well-being to four value outcomes: use, option, existence, and bequest value. Such value outcomes stem from the interaction of three dimensions: beneficiary (individual or collective), time (present or future), and space (proximal or broader context). By combining the three dimensions, the proposed framework reveals how people evaluate their own individual well-being according to different beneficiaries, times, and spaces.
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The purpose of this article is to construct-validate an instrument of value-based performance excellence measurement for higher education institution (HEI) in Malaysia. The HEI performance is measured using 6 value indicators of l...
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The purpose of this article is to construct-validate an instrument of value-based performance excellence measurement for higher education institution (HEI) in Malaysia. The HEI performance is measured using 6 value indicators of leadership, culture, productivity, employee, stakeholders and overall performance. 1,100 questionnaires were distributed and 275 questionnaires were used for analysis. Confirmatory factor analysis (CFA) approach was deployed by using analysis of moment structures software. The results for the hypothesised CFA model revealed the fit statistics of CFI = 0.944, TLI = 0.939 and RMSEA = 0.075. In conclusion, the CFA model fitted the data well. Implications of the study was significant to HEI to consider and adapt the value-based assessment approach in university assessment for total excellence.
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摘要 :
The purpose of this article is to construct-validate an instrument of value-based performance excellence measurement for higher education institution (HEI) in Malaysia. The HEI performance is measured using 6 value indicators of l...
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The purpose of this article is to construct-validate an instrument of value-based performance excellence measurement for higher education institution (HEI) in Malaysia. The HEI performance is measured using 6 value indicators of leadership, culture, productivity, employee, stakeholders and overall performance. 1,100 questionnaires were distributed and 275 questionnaires were used for analysis. Confirmatory factor analysis (CFA) approach was deployed by using analysis of moment structures software. The results for the hypothesised CFA model revealed the fit statistics of CFI = 0.944, TLI = 0.939 and RMSEA = 0.075. In conclusion, the CFA model fitted the data well. Implications of the study was significant to HEI to consider and adapt the value-based assessment approach in university assessment for total excellence.
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A value for games with a coalition structure is introduced, where the rules guiding cooperation among the members of the same coalition are different from the interaction rules among coalitions. In particular, players inside a coa...
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A value for games with a coalition structure is introduced, where the rules guiding cooperation among the members of the same coalition are different from the interaction rules among coalitions. In particular, players inside a coalition exhibit a greater degree of solidarity than they are willing to use with players outside their coalition. The Shapley value is therefore used to compute the aggregate payoffs for the coalitions, and the solidarity value to obtain the payoffs for the players inside each coalition.
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This article reviews and analyses how and why land-management practice draws on two contrasting value systems: economic and social. Land managers are at the crossroads of different value systems, which both overlap and contrast. T...
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This article reviews and analyses how and why land-management practice draws on two contrasting value systems: economic and social. Land managers are at the crossroads of different value systems, which both overlap and contrast. The aim of this article is to provide an understanding of which aspects are crucial in each of the value systems, and to provide a?basis for how and where the value systems can be connected and where they are contradictory. This is undertaken using an exploratory qualitative and descriptive comparison, which contrasts the epistemic logics of the value systems, the manner in which each system makes use of different scales, and the way in which decisions are made with each value system. Such an understanding is crucial to improve coherence in designing and predicting the future effects of land-management interventions. Currently, practitioners tend to design interventions based on single value systems, rather than on combining or integrating value systems. The discursive comparison provides the initial steps towards a?more coherent understanding of the common ground and the missing links in value logics applied in land management. These results are relevant to provide better descriptions and predictions of the effects of land-use interventions and develop improved transdisciplinary models to predict changes and development in the utilization of land or property.
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Purpose - The purpose of this paper is to provide a holistic and comprehensive historical perspective of the evolution of value management, and to illustrate the impact that value analysis can have on innovation within organizatio...
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Purpose - The purpose of this paper is to provide a holistic and comprehensive historical perspective of the evolution of value management, and to illustrate the impact that value analysis can have on innovation within organizations. Design/methodology/approach - A review of published material from credible sources describing the evolution of the value management methodology, and a desktop analysis of 35 documented value management case studies illustrating the role of value management in innovation. Findings- Published descriptions of the evolution of value management are incomplete and fragmented. A holistic and comprehensive historical perspective of value management as a value-adding methodology is provided. Mapped against a model for innovation, value management is shown to contribute substantially to innovation within organizations across a variety of contexts. Value management is currently evolving into a powerful approach to strategic planning. Practical implications - This paper illustrates the contribution of value management to innovation across a variety of industries and contexts. Originality/value - The paper provides a holistic and comprehensive historical perspective of the evolution of value management as a methodology, and demonstrates by mapping selected case studies onto a model of innovation impact, that the method is a powerful and versatile approach to obtaining innovative solutions to organizational problems.
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Management scholars and practitioners generally agree that the primary functions of a business model are value creation and value capture. However, the meaning (conceptualization) of these terms, their measurement, and the factors...
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Management scholars and practitioners generally agree that the primary functions of a business model are value creation and value capture. However, the meaning (conceptualization) of these terms, their measurement, and the factors and mechanisms affecting them remain contentious. In the current article, we provide answers to these questions by clarifying the consumers' value creation and business value capture constructs. Then, we demonstrate how they are determined by four business model mechanisms: value proposition and value targeting (affecting consumers' value through willingness to pay) and value appropriation and value delivery (affecting business value through price and cost). We demonstrate that a fine-grained analysis of a business model's value creation cannot be adequately performed without reference to these four mechanisms. The developed conceptual framework is illustrated and corroborated by the mini-case vignettes. We finish by outlining an application of the proposed framework to two crucial real-world business model situations: escaping the Giver Trap and remaining the Winner.
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