We are in an era of massive disruptions in markets, media, management approaches and business models. These disruptions are being caused by rapid technological changes on the one hand and tectonic shifts in customer preferences and societal behaviour on the other. Marketing knowledge and practices have to advance at a significantly higher pace to address the changing context of market behaviour. Handbook of Advances in Marketing in an Era of Disruptions is meant to share ideas and new knowledge that are relevant to this world of disruptions. Leading scholars from around the world, who have keenly observed the changing market environment, business policies, parameters, theories, methods and practices, have put forth their theses on how marketing thinking needs to evolve to keep pace with the market reality.
Chapter 20: The Contextual Nature of Value in Use
Value is one of the central constructs of business and economics that has been addressed and analysed in a wide variety of both theoretically and empirically oriented studies. In recent years, the concept of value in use has gained increasing attention. Value is seen as a dynamic phenomenon that is experienced and determined in customer usage processes. This switch to a process perspective of value creation and realization raises the question of how value in use can be measured. Based on a systematic literature review and on a review of a number of current research papers and theses, this paper ...