scholarly journals The business of news: exploring the future of journalism as a commercially viable media product in multiplatform digital environments

2021 ◽  
Author(s):  
Irene Hawkings
Keyword(s):  
Value Creation ◽  
News Media ◽  
Customer Value ◽  
Business Models ◽  
Media Industry ◽  
Digital Information ◽  
Audience Research ◽  
Market Growth ◽  
Digital Environments ◽  
Information Landscape

In today’s digital information landscape, many threats challenge the economic model of professional journalism. The adoption of customer-value models by the news media industry, however, is relatively recent. This paper aims to direct news consumption research toward an understanding of the role of customer value creation and brand loyalty in gathering and maintaining newspaper customer markets in the digital era. Understanding what customers value in different contexts, and what value creation strategies are appropriate in these contexts is central to recognizing new market growth opportunities and business model innovation. In this paper, I discuss the application of a formal customer-value lens for newspaper audience research. The results of this research provide insight into the ways that news consumers and new customers differ from one another. The findings show that a news customer’s willingness to pay may be directly related to perceived utility of professional journalism and their brand connection to the newspaper. These implications call for a reexamination of the strategic approaches that inform current newspaper business models. A conceptual framework for segmenting newspaper customer markets based on the extent to which customers will pay for branded news media content is proposed.

scholarly journals The business of news: exploring the future of journalism as a commercially viable media product in multiplatform digital environments

2021 ◽  
Author(s):  
Irene Hawkings
Keyword(s):  
Value Creation ◽  
News Media ◽  
Customer Value ◽  
Business Models ◽  
Media Industry ◽  
Digital Information ◽  
Audience Research ◽  
Market Growth ◽  
Digital Environments ◽  
Information Landscape

In today’s digital information landscape, many threats challenge the economic model of professional journalism. The adoption of customer-value models by the news media industry, however, is relatively recent. This paper aims to direct news consumption research toward an understanding of the role of customer value creation and brand loyalty in gathering and maintaining newspaper customer markets in the digital era. Understanding what customers value in different contexts, and what value creation strategies are appropriate in these contexts is central to recognizing new market growth opportunities and business model innovation. In this paper, I discuss the application of a formal customer-value lens for newspaper audience research. The results of this research provide insight into the ways that news consumers and new customers differ from one another. The findings show that a news customer’s willingness to pay may be directly related to perceived utility of professional journalism and their brand connection to the newspaper. These implications call for a reexamination of the strategic approaches that inform current newspaper business models. A conceptual framework for segmenting newspaper customer markets based on the extent to which customers will pay for branded news media content is proposed.

Reverse use of customer data: implications for service-based business models

2014 ◽  
Vol 28 (7) ◽  
pp. 529-537 ◽  
Author(s):  
Hannu Saarijärvi ◽  
Christian Grönroos ◽  
Hannu Kuusela
Keyword(s):  
Value Creation ◽  
Customer Value ◽  
Design Methodology ◽  
Business Models ◽  
New Products ◽  
Content Type ◽  
Customer Data ◽  
Dominant Logic ◽  
Data Usage ◽  
External Customer

Purpose – The purpose of this study is to explore and analyze the implications of reverse use of customer data for service-based business models. In their quest for competitive advantage, firms traditionally use customer data as resources to redesign and develop new products and services or identify the most profitable customers. However, in the shift from a goods-dominant logic toward customer value creation, the potential of customer data for the benefit of the customer, not just the firm, is an emerging, underexplored area of research. Design/methodology/approach – Business model criteria and three service examples combine to uncover the implications of reverse use of customer data for service-based business models. Findings – Implications of reverse use of customer data for service-based business models are identified and explored. Through reverse use of customer data, a firm can provide customers with additional resources and support customers’ value-creating processes. Accordingly, the firm can move beyond traditional exchanges, take a broader role in supporting customers’ value creation and diversify the value created by the customer through resource integration. The attention shifts from internal to external customer data usage; customer data transform from the firm’s resource to the customer’s, which facilitates the firm’s shift from selling goods to supporting customers’ value creation. Originality/value – Reverse use of customer data represent a new emerging research phenomenon; their implications for service-based business models have not been explored.

scholarly journals Customer value creation via business model implementation

2015 ◽  
Vol 10 (10) ◽  
pp. 2580-2584
Author(s):  
Karaoulanis Andreas
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Customer Value ◽  
Business Models ◽  
Value Proposition ◽  
Model Concept ◽  
Customer Value Proposition

Business models are the blueprints upon which the whole structure and operation of the company is based. The aim of this paper is to underline the importance of business models in value creation for the company and to dig a bit deeper by revealing the synthesis of an abstract business model concept. The importance of customer value proposition via the customer value creation is very well underlined in order to pinpoint the author’s prevalent idea that focusing on customers’ needs should be the alpha and the omega for the eurythmic operation of every contemporary company.

scholarly journals Incorporating the Value Proposition for Society with Business Models of Health Tourism Enterprises

2019 ◽  
Vol 11 (23) ◽  
pp. 6711 ◽  
Author(s):  
Richard W. Butler ◽  
Adam R. Szromek
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Customer Value ◽  
Business Models ◽  
Relevant Literature ◽  
Research Literature ◽  
Value Proposition ◽  
Sustainable Business ◽  
Health Tourism ◽  
Tourism Enterprises

This article discusses the need to expand the concept of the value proposition, in order that this business model component includes the value for a customer, the value captured by the enterprise, and the value for the community, as well as benefits for the natural environment. The objective of the article is to identify sustainable development components that have been proposed for tourist enterprises in the research literature. The article proposes actions to complement existing tourist enterprises business models in order to give them the characteristics of a sustainable business model and to implement practices of value creation for the community. The research notes that the value captured by an enterprise determines the level of implementation of its economic objectives resulting from the value creation for the customer and implementation of social objectives (including pro-ecologic ones). The revenues of an enterprise depend, first of all, on meeting the expectations of the customer, meaning that they depend on the value proposition for the customer, and their volume will allow researchers to determine the possibility of creating value for the community. The expected tendency to create value for the community is argued to be proportional to the effectiveness of customer value influence, less the value captured by the enterprise. After an initial review of relevant literature, attention is focused on health tourism enterprises and how these principals can be applied in that context.

Strategic Responses to Disruptive Digital Innovation and Their Effects in the News Media Industry

2020 ◽  
pp. 532-539
Author(s):  
Vonbackustein Klaus Komla
Keyword(s):  
Social Media ◽  
News Media ◽  
Business Models ◽  
Service Providers ◽  
Media Industry ◽  
Strategic Responses ◽  
Digital Innovation ◽  
Goods And Services ◽  
News Sources ◽  
History Of

Digital innovation (DI) drives the digitalisation of goods and services, which also destroys established business models while creating new value chains. This effect is known as disruptive digital innovation (DDI). Beyond transportation and lodging, the effect is also evident in the news media industry. DIs facilitate an ecosystem in which the distinction between service providers and users become blurred – social media is birthing microbloggers as alternatives to incumbent media networks. There are questions on how firms—both incumbent and startups—strategically respond to DDIs and their effects. For the news media in developing countries, the concern is more acute. First, there are fewer established news sources; second, internet and media regulations are often non-existent or nascent stages, so experimentation is easier for DDI-enabled firms and citizen journalists; and third, fake news is not healthy for contexts with a history of political instability or where people have limited avenues to verify news, be it online, radio, or print. The need for this research is now.

Enhancing service-for-service benefits: potential opportunity or pipe dream?

2017 ◽  
Vol 27 (1) ◽  
pp. 193-218 ◽  
Author(s):  
Alison Dean ◽  
Ghada Talat Alhothali
Keyword(s):  
Value Creation ◽  
Customer Value ◽  
Business Models ◽  
Retail Banking ◽  
Relationship Building ◽  
Future Research ◽  
Content Type ◽  
Starting Point ◽  
Pipe Dream ◽  
Resource Characteristics

Purpose The purpose of this paper is to elucidate service-for-service benefits emerging from co-creation in everyday banking. It does so by identifying factors that constitute the joint provider/customer co-creation platform, distinguishing them from factors that facilitate customers’ independent value creation; and exploring benefits and potential opportunities for each party. Design/methodology/approach Insights were gained by using a qualitative approach involving 33 face-to-face interviews with bank managers (15) and their customers (18) in Saudi Arabia. Content analysis was performed on the data and the two sets of views integrated to compare the reality of service-for-service with theoretical assumptions. Findings The analysis identified 65 topics, clustered to 12 themes. Three themes represented joint, collaborative activity (problem solving, relationship building, and knowledge and learning) whilst other themes identified facilitation actions by banks. Key opportunities to increase mutual value (service-for-service) emerge from extending interaction via the co-creation platform but additional benefits from these opportunities are not currently realized by participants. The authors thereby note the potential of a service focus but suggest that the locus of value creation will not readily shift from the provider to a collaborative process of co-creation. Research limitations/implications The qualitative nature of the study limits generalizability. However, the authors expect that the hierarchy of service-for-service will be meaningful in other contexts. Future research may use it as a starting point for identifying innovations from co-creation, how actors realize and measure service-for-service, and how different business models may strengthen value opportunities. Practical implications The findings provide managers with first, three areas of emphasis to gain and extend mutual service-for-service from direct interactions in everyday banking transactions. Second, the study emphasizes resource characteristics that will facilitate value enhancement for firms and customers by recognition of barriers to collaborative actions, and approaches for pursuit of service-for-service. Originality/value This study establishes the joint and essential firm/customer co-creation platform in retail banking and distinguishes the platform from other customer value-facilitation actions. The authors integrate the findings with previous literature and present a conceptual framework for levels of service-for-service in exchange. This framework shows a hierarchy of key benefits for providers and customers, and highlights increasing complexities that hinder the reality of achieving service-for-service opportunities arising from the joint co-creation platform.

scholarly journals New Business Models Based on Multiple Value Creation for the Customer: A Case Study in the Chemical Industry

2020 ◽  
Vol 12 (9) ◽  
pp. 3932
Author(s):  
Iveta Šimberová ◽  
Peter Kita
Keyword(s):  
Business Model ◽  
Value Creation ◽  
Chemical Industry ◽  
Customer Value ◽  
Business Models ◽  
Model Development ◽  
Theoretical Background ◽  
New Business ◽  
Multiple Value ◽  
New Business Models

The paper’s objective is to describe business models currently used in terms of sustainable multiple customer creation in the chemical industry in the Czech Republic, namely Section 20.1 in the CZ NACE (Classification of Economic Activities). The business models are described through a specified set of business model elements, which correspond with the presented theoretical bodies. The business models are also evaluated and benchmarked based on a custom indicator measuring business model novelty. The theoretical background of the research consists of three theoretical bodies: Sustainability, multiple customer value creation, and new business models. The research stems from the theoretical background and anticipates that the business model development dynamics drives companies to consider the reasons and conditions of their very existence. The Canvas business model serves as a visualization tool, as it is sufficiently comprehensive, analytical, flexible, and general. For this reason, it is appropriate for the research of new business models aimed at multiple value creation in any industry. Owing to the frequency of occurrence of elements in the fields of the canvas business model, it is possible to develop the majority and minority business model design representing the basis of the research.

scholarly journals Combined analyses of costs, market value and eco-costs in circular business models: eco-efficient value creation in remanufacturing

2017 ◽  
Vol 7 (1) ◽  
pp. 1-17 ◽  
Author(s):  
Joost G. Vogtlander ◽  
Arno E. Scheepens ◽  
Nancy M. P. Bocken ◽  
David Peck
Keyword(s):  
Value Creation ◽  
Customer Value ◽  
Business Models ◽  
Market Value ◽  
Point Of View ◽  
Business Strategies ◽  
Niche Markets ◽  
Consumer Markets ◽  
Product Image ◽  
Roll Out

Abstract Eco-efficient Value Creation is a method to analyse innovative product and service design together with circular business strategies. The method is based on combined analyses of the costs, market value (perceived customer value) and eco-costs. This provides a prevention-based single indicator for ‘external environmental costs’ in LCA. The remanufacturing of products is an environmental and sustainable approach, in the circular economy, and can deliver lower eco-costs of materials depletion and pollution. From a business point of view, however, remanufacturing seems to be viable in B2B niche markets only. In consumer markets, remanufacturing is less common. The question is how can remanufacturing become a viable business solution for mainstream consumer markets. Traditional ‘green’ marketing approaches are not enough: green has a positive, but also negative connotations, so marketing approaches are complex. By using the Eco-efficient Value Creation method, marketing strategies for the roll-out of remanufacturing in mainstream consumer markets, can be revealed. This approach has led to the development of five aspects, which are key to innovative circular business models, for remanufacturing: (1) buyers differ from the buyers of the ‘new product’ (2) quality must be emphasised in all communications (3) risk must be taken away from the buyer (4) top level service is required to convince the buyer (5) a ‘green’ brand may support the remanufactured product image.

scholarly journals Consultants' Tools to Manage Digital Transformation

2021 ◽  
Vol 23 (4) ◽  
pp. 1-29
Author(s):  
Diana Claudia Cozmiuc ◽  
Richard Pettinger
Keyword(s):  
Value Creation ◽  
Digital Technology ◽  
Customer Value ◽  
Business Models ◽  
Digital Transformation ◽  
Maturity Stage ◽  
Instrumental Case Study ◽  
Service Business ◽  
Business Cases

Digital transformation since year 2010 has provided a huge worldwide market with digital consultants as top players. Digital transformation is a socio-economic phenomenon subject to lengthy surveys and actual cases on behalf of digital consultants between 2010-2020. By the end of the 2010s, digital transformation management has been reviewed in scientific journals. This is an instrumental case study about digital transformation at PWC, Siemens and Oracle as digital technology providers and consultants. Worldwide digital technology induces digital transformation with the purpose of value creation, motivating companies. Digital consultants are top players. Digital transformation frameworks and digital maturity studies show the dimensions, stages and scales of digital transformation. Roadmaps, programs, projects guide the specific steps from one maturity stage to the target. Business cases are used to compute customer value. Customer value is stipulated in customer contracts in as a service business models. Digital transformation solutions are marketed using these tools.

scholarly journals Consultants' tools to manage digital transformation - the case of PWC, Siemens and Oracle

2021 ◽  
Vol 23 (4) ◽  
pp. 0-0
Keyword(s):  
Value Creation ◽  
Digital Technology ◽  
Customer Value ◽  
Business Models ◽  
Digital Transformation ◽  
Maturity Stage ◽  
Instrumental Case Study ◽  
Service Business ◽  
Business Cases

Digital transformation since year 2010 has provided a huge worldwide market with digital consultants as top players. Digital transformation is a socio-economic phenomenon subject to lengthy surveys and actual cases on behalf of digital consultants between 2010-2020. By the end of the 2010s, digital transformation management has been reviewed in scientific journals. This is an instrumental case study about digital transformation at PWC, Siemens and Oracle as digital technology providers and consultants. Worldwide digital technology induces digital transformation with the purpose of value creation, motivating companies. Digital consultants are top players. Digital transformation frameworks and digital maturity studies show the dimensions, stages and scales of digital transformation. Roadmaps, programs, projects guide the specific steps from one maturity stage to the target. Business cases are used to compute customer value. Customer value is stipulated in customer contracts in as a service business models. Digital transformation solutions are marketed using these tools.

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