B.S. Galdolage

Abstract

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. 

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Cite this paper:

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.