Advanced search
Publication Cover
Journal of Marketing Theory and Practice Volume 15, 2007 - Issue 1
Submit an article Journal homepage
17,671
Views
528
CrossRef citations to date
0
Altmetric
Original Article

Customer Value Creation: A Practical Framework

J. Brock Smith Ph.D. Faculty of Business, University of Victoria, British Columbia, Canada, bsmith@ uvic.ca
&
Mark Colgate Ph.D. Faculty of Business, University of Victoria, British Columbia, Canada, [email protected].
Pages 7-23 | Published online: 08 Dec 2014
 
Sample our Economics, Finance,Business & Industry journals, sign in here to start your access, latest two full volumes FREE to you for 14 days

Abstract

Creation of value for customers is a critical task for marketers, particularly when developing new products and services or starting new businesses. This paper presents a new conceptual framework for marketers to ponder when exploring ways to distinguish themselves, in the eyes of the customer, from others in the marketplace. This framework is built on the strengths of existing frameworks. Possible applications of the framework in designing marketing strategy, recognizing new product opportunities, and enhancing product concept specifications are discussed.

This article is part of the following collections:
Celebrating the Impactful Articles from Journal of Marketing Theory and Practice

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Order Reprints Request Corporate Permissions

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

Request Academic Permissions

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.

Related Research Data

A case of Indian millennials
Source: Emerald
Self-expression through sport participation: exploring participant desired self-image.
Source: Informa UK Limited
Examining customer value perceptions of organizational buyers when sourcing from multiple vendors
Source: Elsevier BV
Brand Heritage and its Impact on Corporate Reputation: Corporate Roots as a Vision for the Future
Source: Springer Science and Business Media LLC
Linking knowledge corridors to customer value through knowledge processes
Source: Emerald
Generating customer value through the boosting of relationships and organisational innovativeness
Source: Taylor and Francis
Hybrid sales structures in the age of e-commerce
Source: Informa UK Limited
Consumer Value
Source: Routledge
A perspective of land-based retailers
Source: Emerald
A Conceptual Framework for Value Co-Creation in Service Enterprises (Case of Tourism Agencies)
Source: Multidisciplinary Digital Publishing Institute
The influence of value perceptions on luxury purchase intentions in developed and emerging markets
Source: Emerald
The quality-value-satisfaction-loyalty chain: relationships and impacts
Source: Emerald
How product representation shapes virtual experiences and re-patronage intentions: the role of mental imagery processing and experiential value
Source: Informa UK Limited
Unleashing the power of luxury: Antecedents of luxury brand perception and effects on luxury brand strength
Source: Springer Science and Business Media LLC
Tour Booking: Do Travelers Respond to Tourism Accreditation and Codes of Ethics Initiatives?
Source: Informa UK Limited
Antecedents and outcomes of brand prominence on willingness to buy luxury brands
Source: Emerald
A view from consumer perceived value
Source: Emerald
The interaction between satisfaction, value attainment and positive mood
Source: Emerald
A comparative approach and cross-fertilization
Source: HAL CCSD
Creating dynamic capabilities to increase customer value
Source: Emerald
Social Media Ties Strategy in International Branding: An Application of Resource-Based Theory:
Source: SAGE Publications
An Innovative Framework for Smart Manufacturing
Source: IGI Global
Communicating Competency in References: A Qualitative Analysis of the Utilization of References in Mechanical Engineering
Source: Informa UK Limited
Capturing value creation in business relationships: A customer perspective
Source: HAL CCSD
Electronic games: Can they create value for the moderate drinking brand?
Source: Emerald
Green hotel servicescape: attributes and unique experiences
Source: Informa UK Limited
Establishing the measurement invariance in measures of consumers’ perceived value
Source: Emerald
Measuring value perceptions of luxury hospitality services
Source: Emerald
A Longitudinal Study of Timeshare Owners
Source: SAGE Publications
The Nature of Customer Value: An Axiology of Services in the Consumption Experience
Source: SAGE Publications, Inc.
Functions of industrial supplier relationships and their impact on relationship quality
Source: Elsevier
Beyond Better Wine: The Impact of Experiential and Monetary Value on Wine Tourists’ Loyalty Intentions
Source: Informa UK Limited
The power of experiential marketing: exploring the causal relationships among multisensory marketing, brand experience, customer perceived value and brand strength
Source: Springer Science and Business Media LLC
VALUE PROPOSITION: APPLICATION OF VALUE CREATION ACTIVITIES MODEL IN THE SUPERMARKET (VCAM-S)
Source: FapUNIFESP (SciELO)
Customer functional value creation through a sustainable entrepreneurial orientation approach
Source: Informa UK Limited
Value Emergence in the Usage of Mobile News Alerts
Source: Informa UK Limited
Accessible luxury fashion brand building via fat discrimination
Source: Emerald
Investigating the Types of Value and Cost of Green Brands: Proposition of a Conceptual Framework
Source: Springer Science and Business Media LLC
An Integrated Approach toward the Spatial Modeling of Perceived Customer Value
Source: SAGE Publications
Luxury values as drivers for affective commitment: The case of luxury car tribes
Source: Taylor & Francis Group
When social intrusiveness depletes customer value: A balanced perspective on the agency of simultaneous sharers in a commercial sharing experience
Source: HAL CCSD
What does value mean in business‐to‐business professional services?
Source: Emerald
To stay or not to stay? Discontinuance intention of gamification apps
Source: Emerald
The value concept and relationship marketing
Source: Emerald
Chinese Outbound Tourist Preferences for All-Inclusive Group Package Tours: A Latent Class Choice Model:
Source: SAGE Publications
Understanding Customer Value in Business-to-Business Relationships
Source: Informa UK Limited
Value as excellence in the consumption experience
Source: Routledge
Associating consumer perceived value with business models for digital services
Source: Informa UK Limited
How social, environmental, and economic CSR affects consumer-perceived value: Does perceived consumer effectiveness make a difference?
Source: Wiley
Relationship Marketing in Consumer Markets: Antecedents and Consequences:
Source: Springer Science and Business Media LLC
The Role of Perceived Risk in the Quality-Value Relationship: A Study in a Retail Environment
Source: Elsevier BV
The path to mall patronage intentions is paved with 4E-based experiential value for Indian consumers
Source: Emerald
Exploring the customer experience with Airbnb
Source: Emerald
The entrepreneurial marketing of Trumpet Records
Source: Emerald
Assessing Value From Business-to-Business Services Relationships: Temporality, Tangibility, Temperament, and Trade-Offs:
Source: SAGE Publications
Value‐driven relational marketing: From products to resources and competencies
Source: Informa UK Limited
Luxury customer value
Source: Emerald
Relationships between experiential risk, experiential benefits, experiential evaluation, experiential co-creation, experiential relationship quality, and future experiential intentions to travel with pets:
Source: SAGE Publications
A theoretical framework of electronic word-of-mouth against the backdrop of social networking websites
Source: Informa UK Limited
Examining the Firm's Value Creation Process
Source: Wiley
Macro-social Marketing:
Source: SAGE Publications
Customer value perception: cross-generational preferences for wine
Source: Emerald
Walking the talk of customer value
Source: Wiley
Interpreting value in the customer service experience using customer-dominant logic
Source: Informa UK Limited
The Promise of Entrepreneurship as a Field of Research
Source: Academy of Management
Hedonic and utilitarian value as a mediator of men’s intention to purchase cosmetics
Source: Informa UK Limited
Multi-Agent Reinforcement Learning for Value Co-Creation of Collaborative Transportation Management (CTM)
Source: IGI Global
Value types in higher education – students’ perspective
Source: Informa UK Limited
Understanding of the Value-Creation Chain
Source: Wiley
Developing a customer value-based theory of the firm
Source: Springer Science and Business Media LLC
Formation of Consumer Price Expectation Based on Package Design: Attractive and Quality Routes
Source: Informa UK Limited
The influence of country image on luxury value perception and purchase intention
Source: Emerald
Strategic Brand Concept-Image Management:
Source: SAGE Publications
The Focus of Entrepreneurial Research: Contextual and Process Issues:
Source: Baylor University, Hankamer School of Business
Diverse Economies of Collective Value Co-creation: The Open Monuments Event
Source: Informa UK Limited
Enhancing the Influence of Distal Primes on Creativity: The Role of Contextual and Personal Variables
Source: Informa UK Limited
Business suppliers' value creation potential: A capability-based analysis☆
Source: Elsevier BV
The role of prosocial and proactive personality in customer citizenship behaviors
Source: Emerald
Resource-advantage theory: A snake swallowing its tail or a general theory of competition?
Source: SAGE Publications
Design benefits, emotional responses, and brand engagement
Source: Emerald
The Conceptualisation and Measurement of Consumer Value in Services
Source: SAGE Publications
Dimensions of the perceived value of malls: Muslim shoppers’ perspective
Source: Emerald
Acting Like Humans? Anthropomorphism and Consumer’s Willingness to Pay in Electronic Commerce
Source: Informa UK Limited
Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence:
Source: SAGE Publications
Identifying competitive customer value propositions in retailing
Source: Emerald
UNDERSTANDING LUXURY DISPOSITION
Source: Wiley
Designing for Value: Insights from the Emotional Appraisal Approach to Understanding User Value
Source: Informa UK Limited
Customer‐perceived value in industrial contexts
Source: Emerald
Business models in tourism: a review and research agenda
Source: Emerald
Customer value perception of organic food: cultural differences and cross-national segments
Source: Emerald
The strategic imperative and sustainable competitive advantage: Public policy implications of resource-advantage theory
Source: Springer Science and Business Media LLC
Customer value: The next source for competitive advantage
Source: Springer Science and Business Media LLC
Value‐based marketing and its usefulness to customers
Source: Emerald
From consumers’ individual value perception to luxury consumption
Source: Emerald
Customer value and autoethnography: subjective personal introspection and the meanings of a photograph collection
Source: Elsevier BV
Reflections on gaining competitive advantage through customer value
Source: Springer Science and Business Media LLC
Empirical evidence from India
Source: Emerald
Effect of value perceptions on luxury purchase intentions: an Indian market perspective
Source: Informa UK Limited
The impact of brand heritage on customer perceived value
Source: Springer Science and Business Media LLC
The case of supermarket retailers
Source: Emerald
Licensing a sports brand: effects of team brand cue, identification, and performance priming on multidimensional values and purchase intentions
Source: Emerald
Measuring customer value: Gaining the strategic advantage
Source: Elsevier BV
Special possessions and the expression of material values.
Source: Oxford University Press (OUP)
Brand love in progress – the interdependence of brand love antecedents in consideration of relationship duration
Source: Emerald

Linking provided by 

Related research

People also read lists articles that other readers of this article have read.

Recommended articles lists articles that we recommend and is powered by our AI driven recommendation engine.

Cited by lists all citing articles based on Crossref citations.
Articles with the Crossref icon will open in a new tab.