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Article
Publication date: 15 February 2011

Christian Kowalkowski

This paper aims to examine the notion of value propositions (promises of reciprocal value between service providers and their customers), value‐in‐exchange and value‐in‐use

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7800

Abstract

Purpose

This paper aims to examine the notion of value propositions (promises of reciprocal value between service providers and their customers), value‐in‐exchange and value‐in‐use, all within the conceptual context of service‐dominant (S‐D) logic.

Design/methodology/approach

Responding to calls in the recent literature for an academic critique of S‐D logic, its key constructs, and its application in marketing situations of varying complexity, the paper presents a conceptual analysis of the determinants of value emphasis in value propositions from the S‐D perspective.

Findings

Four guiding principles are derived from a rigorous analysis of the relevant literatures. Ways are discussed in which firms might achieve greater flexibility in designing their market offerings, and thus manage different customer segments using different value propositions. The general conclusion is that the ability to communicate a firm's value propositions strategically and effectively is a new area for the development of competence at the core of competitive advantage.

Research limitations/implications

The findings pave the way for empirical research into the dynamics of value propositions. Since the main focus of the conceptual framework is on the customer‐provider dyad, future studies should broaden coverage to multilateral settings and networked environments.

Practical implications

Factors that determine the relative emphasis in value propositions between value‐in‐exchange and value‐in‐use are discussed, and the management implications derived from each of the four principles identified.

Originality/value

The paper elaborates the application of S‐D logic in marketing by investigating the determinants of relative emphasis of value propositions.

Details

European Journal of Marketing, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 January 1991

N. Mohan Reddy

The search for a better grasp of the what, why and how of productvalue is analogous to the quest for the Holy Grail. Just when you thinkthat you finally have a handle on…

Abstract

The search for a better grasp of the what, why and how of product value is analogous to the quest for the Holy Grail. Just when you think that you finally have a handle on it, the mirage fades away and another appears on the horizon, full of hope. So go our efforts to understand customer valuation of products. There exists a value definition at every turn, but one is never too sure how they all fit together (if they do at all!). This article attempts to reconcile the various definitions in the search for an operational framework of product value.

Details

Management Decision, vol. 29 no. 1
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 4 July 2008

Andreas Hinterhuber

Customer value‐based pricing is increasingly recognised by academics and practitioners as the most effective approach to pricing for companies wishing to achieve increased

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28589

Abstract

Purpose

Customer value‐based pricing is increasingly recognised by academics and practitioners as the most effective approach to pricing for companies wishing to achieve increased profitability and sustained success. However, despite this apparent support for the implementation of value‐based pricing, the practical reality is that more than 80 percent of companies continue to price their products and services primarily on the basis of costs and/or competitive price levels. The present study investigates this phenomenon and identifies the main reasons for this gap between aspiration and reality.

Design/methodology/approach

A two‐stage empirical approach is employed: first, in a qualitative research, the phenomenon of implementation of value‐based strategies with groups of business executives participating in pricing workshops is explored. The result of this qualitative stage was then used to develop a questionnaire which was tested upon a significantly larger and more stratified population. Finally cluster analysis to summarize the results of this quantitative research stage was employed.

Findings

Based on a survey of 81 executives representing a wide range of B2B and B2C industries in Germany, Austria, China, and the USA, five main obstacles to the implementation of value‐based pricing strategies have been identified: deficits in value assessment; deficits in value communication; lack of effective market segmentation; deficits in sales force management; and lack of support from senior management. The paper also provides a range of remedies to overcome these obstacles.

Originality/value

In extant literature there exists a gap between: the widespread understanding of the superiority of customer value‐based pricing strategies; and the circumstance that customer value‐based pricing strategies are currently the least widely diffused major pricing approach. We cover thus gap by highlighting which obstacles exist to the implementation of value‐based pricing strategies and provide a series of remedies to overcome these obstacles.

Details

Journal of Business Strategy, vol. 29 no. 4
Type: Research Article
ISSN: 0275-6668

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Book part
Publication date: 11 June 2009

Gerald E. Smith and Arch G. Woodside

This paper includes an examination of two key issues on price decisions: (1) how should price decisions be made (the strategic and normative issue) within market contexts…

Abstract

This paper includes an examination of two key issues on price decisions: (1) how should price decisions be made (the strategic and normative issue) within market contexts, and (2) how are price decisions actually made (the execution and implementation of price decisions). The paper closes with some observations useful for applied research and strategies for making effective pricing decisions. The propositions and literature review show that one pricing strategy does not fit a brand in all market contexts that brand executives experience annually in managing brands. Setting specific price points requires continuing deliberate management responses to dynamic market contexts. This paper provides useful sense-making conjunctive steps to accomplish such deliberate thinking effectively relevant for different market contexts.

Details

Business-To-Business Brand Management: Theory, Research and Executivecase Study Exercises
Type: Book
ISBN: 978-1-84855-671-3

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Article
Publication date: 1 May 1983

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This…

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13816

Abstract

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

Details

Management Decision, vol. 21 no. 5
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 March 2004

Francesca Sotgiu and Fabio Ancarani

Smart firms are not worried about the impact of the Internet on pricing, but realise that they have the unique opportunity to exploit new options and improve their…

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4557

Abstract

Smart firms are not worried about the impact of the Internet on pricing, but realise that they have the unique opportunity to exploit new options and improve their marketing performance. Multi‐channel pricing is one of the most interesting opportunities firms can exploit in the digital economy. Reviews the existing literature on pricing on the Internet and on multi‐channel pricing. Presents the results of an exploratory research on price opportunities perceived by firms. Offers a picture of the possible multi‐channel options available to firms and highlights the importance of the value for and of the customer.

Details

Journal of Product & Brand Management, vol. 13 no. 2
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 31 October 2008

Reed K. Holden

Discounting has become the crack cocaine of senior management with terrifying effects on both revenue and profits. The purpose of this paper to show managers how and where

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1733

Abstract

Purpose

Discounting has become the crack cocaine of senior management with terrifying effects on both revenue and profits. The purpose of this paper to show managers how and where to put a stake in the ground to kick the discounting habit and move to a more effective and disciplined approach to pricing.

Design/methodology/approach

The author leverages his research on trust in buyer seller relationships with extensive experience with real world pricing to provide insights in why and when discounting is not appropriate and how business can benefit in terms of both profits and revenue growth by adopting more appropriate pricing tactics.

Findings

Prior research has shown that more effective pricing can lead to an 11 percent improvement in a firm's profitability. By focusing on eliminating unnecessary discounting, managers can improve profits by more than 20 percent. Specific management tactics are identified which reflect the realities of doing business in today's world of increased competition, product commoditization and sophisticated buyers.

Originality/value

Provides insights in why and when discounting is not appropriate and how business can benefit in terms of both profits and revenue growth by adopting more appropriate pricing tactics.

Details

Journal of Business Strategy, vol. 29 no. 6
Type: Research Article
ISSN: 0275-6668

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Article
Publication date: 17 April 2009

Syed H. Akhter

The purpose of this paper is to examine how the perception of price‐value tradeoff is related to overall satisfaction, purchase intention, word‐of‐mouth advertising, and…

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6354

Abstract

Purpose

The purpose of this paper is to examine how the perception of price‐value tradeoff is related to overall satisfaction, purchase intention, word‐of‐mouth advertising, and actual repurchase behavior.

Design/methodology/approach

Data on subscribers and single ticket buyers of a major symphony orchestra in the Midwest are used to test the hypotheses.

Findings

The ANOVA results show significant differences across the three levels of price‐value tradeoff in each of the response variables. Additional analyses of cross‐tabulated data show that some of the bivariate relations conform to, as well as depart from, the rational consumer behavior model.

Research limitations/implications

Although the hypotheses are supported, bivariate relations examined in this study can mask or overstate true relations due to the omitted variables bias. Future research can explore reasons for favorable behaviors of consumers whose perception is that the value they receive is overpriced, and also for unfavorable behaviors of consumers whose perception is that the value they received is under‐priced.

Practical implications

The different niches at the edges provide opportunities for marketers to fine‐tune segmentation and marketing mix strategies. The use of standardized strategies for these niches with different perception and behavior linkages will yield suboptimal results.

Originality/value

While previous research has mostly focused on price‐quality linkages, this study extends the body of research by examining the perception of price‐value tradeoff and its relation to overall satisfaction, purchase intention, word‐of‐mouth advertising, and actual repurchase behavior. This adds to our understanding of post consumption behavior, showing how consumers respond to the perception of price‐value tradeoff.

Details

Journal of Product & Brand Management, vol. 18 no. 2
Type: Research Article
ISSN: 1061-0421

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Article
Publication date: 1 December 2004

Nick French

Provides a brief overview of the methods that used in real estate valuation with a particular emphasis on the valuation of specialised property. Proposes that the…

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8412

Abstract

Provides a brief overview of the methods that used in real estate valuation with a particular emphasis on the valuation of specialised property. Proposes that the underlying requirement is to estimate market value and that the role of the valuer is to choose the method that is the best model to achieve this objective. Concludes that a valuer must work with the recognised techniques and, in the case of specialised property, these are methods that go back to analysing value from first principles by identifying the value of the property to the business.

Details

Journal of Property Investment & Finance, vol. 22 no. 6
Type: Research Article
ISSN: 1463-578X

Keywords

Content available
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82

Abstract

Details

Journal of Property Investment & Finance, vol. 23 no. 3
Type: Research Article
ISSN: 1463-578X

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