Abstract
Globalization and information technologies have made the economical landscape more transparent and customers smarter, more demanding and networked. Companies can see these changes as a threat to their business or as an opportunity to differentiate in the market and be a Prime Mover, by re-thinking customer value within the value system. This article shows how the term “value” is understood in different contexts and fields of economy, to see if these definitions can be merged, in order to understand the concept of value in broader way. The authors argue through literature review and example cases that seeing value from multi-disciplinary viewpoint opens up some unused opportunities for the companies to overcome barriers within a value system, design integrated products and services, work more effectively, co-create value with customers, make use of word-of-mouth promotion and achieve long-term relationships with customers. A new concept for re-thinking the value system is proposed and its main potentials to improve firms’ performance are described.
Original language | English |
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Title of host publication | Proceedings of the 18th International Conference on Engineering Design : Impacting Society through Engineering Design |
Number of pages | 448 |
Volume | Vol.3 Design organisation and management |
Publisher | Design Society |
Publication date | 2011 |
Pages | 387-397 |
ISBN (Print) | 978-1-904670-23-0 |
Publication status | Published - 2011 |
Event | 18th International Conference on Engineering Design : Impacting Society Through Engineering Design - Copenhagen, Denmark Duration: 15 Aug 2011 → 18 Aug 2011 Conference number: 18 http://www.iced11.org/ |
Conference
Conference | 18th International Conference on Engineering Design : Impacting Society Through Engineering Design |
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Number | 18 |
Country/Territory | Denmark |
City | Copenhagen |
Period | 15/08/2011 → 18/08/2011 |
Internet address |
Keywords
- Product and service development
- Customer activity cycle
- Value system
- Value-centric model
- Business model re-configuration
- PSS
- Product life
- Innovation
- PD methods
- Design
- Design methodology
- Design research
- Design types