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Value-in-Acquisition: An institutional view
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.).ORCID iD: 0000-0001-6117-4408
GIBS, University of Pretoria.
Copenhagen Business School.
2019 (English)In: European Journal of Marketing, ISSN 0309-0566, E-ISSN 1758-7123, Vol. 55, no 11, p. 2373-2396, article id EJM-11-2017-0910Article in journal (Refereed) Published
Abstract [en]

Abstract

Purpose

By combining consumer culture theory and service dominant logic, this study proposes that value might be understood as value-in-acquisition, such that value outcomes result from the acquisition process in which broader social forces shape the exchange process.

Design/methodology/approach

This study addresses low-income consumers, for whom societal arrangements strongly determine service interactions. Qualitative interviews reveal service value processes and outcomes for low-income consumers during acquisition processes.

Findings

For low-income consumers, inclusion, status, resource access and emotional relief represent key value outcomes. Important value processes shape those value outcomes, reflecting broader societal arrangements at macro, meso and micro levels. Marketing constitutes an institutional arrangement that establishes an empowered “consumer” role. Value processes are hindered if consumers sense that their agency in this role is diminished, because marketing interactions give precedence to other social roles.

Research limitations/implications

Marketing should be studied as an institutional arrangement that shapes value creation processes during acquisition. Micro-level value processes have important implications for service quality and service value. Value outcomes thus might be designed in the acquisition process, not just for the offering.

Practical implications

The acquisition process for any good or service should be designed with its own value proposition, separate to the core product or service. Careful design of value processes during acquisition could mitigate conflict between social roles and those of consumption.

Originality/value

There is value in the acquisition process, independent of the value embedded in the goods and services.

Place, publisher, year, edition, pages
Bingley: Emerald Group Publishing Limited, 2019. Vol. 55, no 11, p. 2373-2396, article id EJM-11-2017-0910
Keywords [en]
Value creation process, Institutional arrangements, Acquisition process, Low-income consumer, Value creation outcomes
National Category
Business Administration
Research subject
Business Studies
Identifiers
URN: urn:nbn:se:kth:diva-259983DOI: 10.1108/EJM-11-2017-0910ISI: 000487036200006Scopus ID: 2-s2.0-85063935583OAI: oai:DiVA.org:kth-259983DiVA, id: diva2:1354058
Note

QC 20191001

Available from: 2019-09-24 Created: 2019-09-24 Last updated: 2019-12-09Bibliographically approved
In thesis
1. Deconstructing value: The role of resource access in determining value processes and value outcomes at different stages of the consumption journey
Open this publication in new window or tab >>Deconstructing value: The role of resource access in determining value processes and value outcomes at different stages of the consumption journey
2019 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

Defining value has been an ongoing task for marketing scholars. Some researchers assert that the difficulty of gaining consensus on value is because value is multidimensional while the discipline attempts to view it holistically. Value has been deconstructed into a three spheres and occasions, namely the provider sphere, the joint sphere and the customer sphere. The current research sought to build on their model. Here it is posited that different value outcomes occur at different stages of the consumption process. The central question is therefore: is value better understood as a series of outcomes across the consumption journey than one holistic evaluation?

Extant literature has increasingly sought to formalise how context shapes value. Value is created by integrating resources, and resources are not evenly distributed in any society. The current research has incorporated resource access and individual agency as the processes of value creation that shape value outcomes. The following research questions emerged:

 

RQ1: How does resource access affect consumer agency and power?

RQ2: How can resource networks be used to design a value proposition?

RQ3: How does differential access to resources impact value during the acquisition process?

RQ4: How can active resource destruction provide value outcomes?

 

The empirical part of this research covered four papers, one of which was a conceptual paper. Two followed the interpretivist paradigm and a qualitative approach. Such an approach is strongly advocated in the literature on value. A fourth utilised the objective paradigm and followed a quantitative approach. Each approach was deemed best to suit the research question.

The contribution to the body of knowledge is to establish how resources influence value creation processes and outcomes in three separate stages of the consumption lifecycle: value proposition development, value-in-acquisition and value-in-disposal. An additional sphere, termed the consumer sphere, was added to Grönroos and Voima’s existing three spheres (producer, joint and customer).

The document is organised as an overall introduction to the research narrative of four related published papers. The document opens with a chapter providing an overview, followed by a chapter on the literature review, a methods chapter and a chapter of findings. The four papers follow under Chapter 5 at the end. Three of these papers have been published; one is being revised to be resubmitted.

Place, publisher, year, edition, pages
Stockholm: KTH Royal Institute of Technology, 2019. p. 169
Series
TRITA-ITM-AVL ; 31
Keywords
Consumer value journey, institutional arrangements, resource access, value creation outcomes, value creation processes, value deconstruction, value-in-acquisition, value-in-destruction.
National Category
Economics and Business
Research subject
Business Studies; Industrial Economics and Management
Identifiers
urn:nbn:se:kth:diva-261210 (URN)978-91-7873-327-9 (ISBN)
Public defence
2019-11-25, F3, Lindstedtsvägen 26, Stockholm, 08:30 (English)
Opponent
Supervisors
Available from: 2019-10-30 Created: 2019-10-03 Last updated: 2019-12-09Bibliographically approved

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Publisher's full textScopushttps://www.emerald.com/insight/content/doi/10.1108/EJM-11-2017-0910/full/pdf?title=value-in-acquisition-an-institutional-view

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