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Value - The "Atom" of the Economy
Linnaeus University, School of Business and Economics, Department of Marketing. University of Gävle, Sweden.ORCID iD: 0000-0003-3323-907X
2020 (English)In: 13th Annual Conference of the Euromed Academy of Business: Business Theory and Practice Across Industries and Markets / [ed] Vrontis, D Weber, Y Tsoukatos, E, Euromed Press , 2020, p. 907-917Conference paper, Published paper (Refereed)
Abstract [en]

This is a conceptual paper about the most fundamental concept in the science of business administration, value. It traces its history, discusses the demarcation approach of the service dominant logic, arguing against it. We hold that customer co-creation is already presumed in the concept of use-value; the customer can realize the value-potential of a product or a service by satisfying experiences from the offering. Under certain circumstances relationships influence the value, often motivating temporal suspension of market relations. In other cases, relationships do not give the potential for additional value and the exchange between seller and buyer continues to be a transaction. The micro-foundations of value are searched in the social psychology oof these experiences and how they build the value. The paper suggests the need for radical re-focusing of business practices.

Place, publisher, year, edition, pages
Euromed Press , 2020. p. 907-917
Series
EuroMed Academy of Business Conference Book of Proceedings, ISSN 2547-8516
Keywords [en]
Value, exchange-value, use-value, co-production, relationship marketing, transaction marketing
National Category
Economics and Business
Research subject
Economy
Identifiers
URN: urn:nbn:se:lnu:diva-105787ISI: 000652176000067ISBN: 978-9963-711-89-5 (print)OAI: oai:DiVA.org:lnu-105787DiVA, id: diva2:1579217
Conference
13th Annual Conference of the EuroMed-Academy-of-Business (EuroMed) - Business Theory and Practice Across Industries and Markets, SEP 09-10, 2020, ELECTR NETWORK
Available from: 2021-07-08 Created: 2021-07-08 Last updated: 2021-07-08Bibliographically approved

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Philipson, Sarah

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf