An update on customer value: state of the art, revised typology, and research agenda
ISSN: 1757-5818
Article publication date: 7 August 2019
Issue publication date: 15 November 2019
Abstract
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.
Keywords
Acknowledgements
The author would like to express sincere gratitude to Bart Larivière and Jay Kandampully for their constructive feedback on earlier versions of this manuscript. The author also wants to thank the anonymous reviewers for their guidance on how to improve the paper. Finally, the author wants to thank Morris B. Holbrook for his encouragement and support.
Citation
Leroi-Werelds, S. (2019), "An update on customer value: state of the art, revised typology, and research agenda", Journal of Service Management, Vol. 30 No. 5, pp. 650-680. https://doi.org/10.1108/JOSM-03-2019-0074
Publisher
:Emerald Publishing Limited
Copyright © 2019, Emerald Publishing Limited