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Essay / Research Paper Abstract
This 14 page paper begins with a general introduction that discusses the importance of value creation in sustaining competitive advantage. The writer then defines value and explains how the definition of value has changed over the last several years. The value formula is presented and the components in value are outlined. The next section explains and discusses value creation and the components in value creation. Value migration is defined and explained. Examples of companies who did not anticipate value migration are included. Lastly, the process of Customer Value Management is explained. 1 Table is included. Bibliography lists 9 sources.
Page Count:
14 pages (~225 words per page)
File: MM12_PGvalcr.rtf
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Unformatted sample text from the term paper:
adequately for changes in competitor power, decay of differentiation, technology life-cycle disruptions, and value migration" (Moore and Wiefels, 2002). In todays market, it is imperative for executives to think about
how markets are developed in the first place and then how to sustain those markets (Moore and Wiefels, 2002). They need to discover what consumers and markets value, how their
own company can serve todays markets, and they need to determine how to reallocate their own resources to succeed in these markets (Moore and Wiefels, 2002). Value proposition is the
hub of any business strategy and companies must begin to look at businesses as value delivery processes (C & K Management Limited, 2002). Value Defined Value is
defined as the "difference between the price that a consumer is willing to pay for a brand and its current market price" (C & K Management Limited, 2002). The greater
the difference between these two prices, the more value the consumer perceives in that product (C & K Management Limited, 2002). In other words, consumers make their purchases based on
which product offers the greatest value to them. Moore and Wiefels assert that the definition of value has changed in the post-dot.com era and offer the following table to
illustrate these changes. Whats out Whats in First-mover advantage First-prover advantage Revenue growth at all costs Positive cash flow Revolutionary offers Evolutionary offers Market breadth Market depth Geographical coverage Domain
expertise Strategic partners Value-chain partners Vendor-centric messaging Customer-centric messaging (Source: Moore and Wiefels, 2002). Value proposition must be at the heart of the companys business strategy if they are to
be perceived as offering value according to this new definition and, in fact, companies must offer superior value (Moore and Wiefels, 2002). Value proposition is described as the compilation of
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