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The Relativity of Value

In: Synconomy

Author

Listed:
  • Joseph A. DiVanna

Abstract

In this chapter, the discussion centres on how customers perceive value and how organizations develop value propositions which are increasingly shaped by cultural preferences and other social factors. Why one product is perceived to be more valuable than another has perplexed marketing professionals for decades. How can a product which was revered as extremely valuable lose its value over time, only to have its value reinstated at a later time? This can be observed in the fashion industry, where clothes go in and out of style in successive generations or from country to country. The question of what makes products valuable and how customers perceive value has challenged even the most determined marketing executives, frustrated senior executive teams and provided vast opportunities for academics to analyse the behaviours, attitudes and decision-making processes of large varieties of people.

Suggested Citation

  • Joseph A. DiVanna, 2003. "The Relativity of Value," Palgrave Macmillan Books, in: Synconomy, chapter 0, pages 67-99, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-50955-9_3
    DOI: 10.1057/9780230509559_3
    as

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