Machine generated contents note: 1. Introduction and impact of digitisation on markets -- Evolution of music to media content as a case study -- The new battleground in digitisation -- Chapter 1 reflections -- 2. Back to basics -- what is value? -- Atomistic value -- Phenomenological value -- Money changes everything -- Goods-dominant logic -- Enter the world of business -- Back to first principles: a service-dominant logic -- Chapter 2 reflections -- 3. Value and context -- Value-creating outcomes -- Context: the new focus for value creation -- Chapter 3 reflections -- 4. Lifting the lid off context -- the contextual experience -- The scope of the context as a system -- The elements in context -- The structural and systemic context -- The individual in context -- The emergent outcomes from value co-creation in context -- Chapter 4 reflections -- 5. Value and exchange -- Assessing worth -- Advanced-based exchanges -- Outcome-based exchanges -- Context-based exchanges. Contents note continued: Chapter 5 reflections -- 6. Rise of the digital economy -- Hyper-connectivity and IoT -- Serving contexts -- Visibility of the self: empowerment and service -- Visibility of groups: collective action -- Digital backwash -- Chapter 6 reflections -- 7. Back to basics in value creation -- a theory of latent demand -- Latent needs from existing social connectivity -- Latent needs for information -- Latent needs from contextual variety of experience (CVE) -- Latent needs from resource catalysts in contexts -- From needs to wants: de-institutionalising existing solutions -- A solution that doesn't yet exist: effectual reasoning -- Accommodating new solutions: creating modularity -- From solutions to markets -- Chapter 7 reflections -- 8. Value propositions and new business models -- Mindset change 1 Customer as competency of the firm's value proposition -- Mindset change 2 Value proposition sits in the constellation of value creation. Contents note continued: Value proposition as an outsourced proposition -- Value proposition as an empowering proposition -- Value proposition as achieving outcomes -- Differences between the design of solutioning and outcome-based value propositions -- Value proposition as platform -- New business models -- Value constellation maps and theorising on disruptive business models -- Chapter 8 reflections -- 9. Creating viability and worth -- Commercial viability -- The changing landscape of manufacturing and service -- Revenue models for creating worth from value creation -- Market incentive mechanisms -- Value and worth: a divide -- Chapter 9 reflections -- 10. Markets, digital labour and new economic models -- Multi-sided markets -- Network effects -- Spiralling digital demand -- Commodification -- New economic models for personal data -- Utopia or dystopia -- Chapter 10 reflections.
Summary:
Creating New Markets in the Digital Economy looks at how digitisation is radically changing the way we buy and experience products and services. Sharing her unique perspective of both business and academia, Irene Ng examines the implications of digital connectivity, including the need to design and scale future business models to better fit 'lived lives', creating value as well as increasing worth so that new markets can emerge. The book provides a conceptual framework and practical advice to equip readers with the knowledge they need to develop future products and services that take advantage of connectivity and serve contexts better. With its accessible language, numerous case examples and illustrations to illuminate challenging concepts, this book is an important resource for business leaders, entrepreneurs and policy makers, as well as students of service science, business and engineering.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.