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How is value created? - Extending the value concept in the Swedish context
Stockholm University, Faculty of Social Sciences, Stockholm Business School.
2018 (English)In: Journal of Retailing and Consumer Services, ISSN 0969-6989, E-ISSN 1873-1384, Vol. 40, p. 249-260Article in journal (Refereed) Published
Abstract [en]

This inductive study elaborates on the value concept and unpacks the process of how value is created in the Swedish food industry by combining the theoretical tool of goal hierarchy with the methods of network analysis. Through real world insights, on how consumers and retail firms act and coordinate their activities to fulfill their roles in consumer value creation, this study proposes a differing perspective that extends the value-in-use concept by identifying four sequential consumer activities. They are (i) reflections about what is important (value) in the specific consumption situation (the focal goal), (ii) the starting point of value creation (selection and application of means), (iii) the process involved in providing and enjoying holistic solutions, and (iv) ultimately its contribution to life fulfillment in the sense that value creation is meaningful. Thus, consumers create value by setting clear differential hierarchical goals that include the identification of resources and consumers’ own capacity before choosing the products and using them. The network analyses also reveal an additional space for supporting value creation: firm to firm interactions which add more resources to providers’ support of consumer value creation. The paper provides new real world insights on how consumers and firms act to fulfill their roles in consumer value creation. This knowledge helps retailers to better identify and manage value creation tools to support their customers in value creation.

Place, publisher, year, edition, pages
2018. Vol. 40, p. 249-260
Keyword [en]
value creation, consumer understanding, consumer perspective
National Category
Business Administration
Research subject
Business Administration
Identifiers
URN: urn:nbn:se:su:diva-149716DOI: 10.1016/j.jretconser.2017.10.010ISI: 000416655400026OAI: oai:DiVA.org:su-149716DiVA, id: diva2:1164280
Available from: 2017-12-11 Created: 2017-12-11 Last updated: 2018-01-08Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
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