Open AccessBook Review: How Creating Customer Value Makes You a Great Executive by Gautam Mahajan
Author(s) -
B. S. Galdolage
Publication year - 2021
Publication title -
vidyodaya journal of management
Language(s) - English
Resource type - Journals
ISSN - 2448-9344
DOI - 10.31357/vjm.v7i1.4913
Subject(s) - value (mathematics) , marketing , database transaction , customer retention , business , perspective (graphical) , service (business) , computer science , service quality , machine learning , programming language , artificial intelligence
The history of value perceptions in marketing goes back to the end of the 19th century, to the industrial revolution which gave rise to ‘transaction marketing’. It made a dichotomy between the customer and producer, making value one-way directional from the provider to the customer. In the early 1990s, many ‘industrial nations' which were recognised as ‘production-led economies' started transforming into ‘service led’ seeking to establish long-term relationships with customers focusing on customer retention more than attracting new customers. However, value creation in the third millennium, progressively transformed into a new stage giving priority to the collaborative perspective of value creation which termed as co-creation. Cite this book review: B.S. Galdolage. (2021). Book Review: How Creating Customer Value Makes You a Great Executive by Gautam Mahajan, Vidyodaya Journal of Management, 7(1), 163-165.