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  • Essay / The theory of value in business - 944

    Value is used in a central thought of economic theory (Haksever et al., 2004). The key to value is an "exchange" between two units such as "benefits and sacrifices" (Möller, 2006), "consumer surplus", optimization of money or optimization of use value, but minimization of exchange value (sacrifices in terms of price). (Bowman & Ambrosini, 2010). Normann & Ramirez (1993) use the terms co-produce to define customer participation in value co-creation whereby realized value is not created at the supplier level, but between customer interactions. in terms of the monetary value of the business, while others include non-monetary benefits such as market competitiveness, skills and social rewards (Walter, Ritter and Gemünden, 2001) or could be the combination of both. tangible or intangible value can arise from the business activities, policies and regular actions of the company, because the power of the product, service or activity to meet a requirement or generate a profit for a natural person or Morality can positively influence value. “quality of life, knowledge, prestige, safety, physical and financial security, as well as the provision of food, shelter, transportation, income, etc. » (Haksever et al., 2004, p. 292). These values ​​are intended for the company's stakeholders such as its customers, suppliers, owners and other alliances of the company (Bowman and Ambrosini, 2010). are different, it is a sequence of activities carried out by the company (Vargo et al., 2008). From a marketing perspective, Prabhaker (2000) defines a value as a construct derived from one of five independent sources, including market conditions, product specification, process... middle of article...... value for the development of a new product or system (Rauniar, 2005). As such, there is much research related to co-creation with customers regarding customer satisfaction (Vega). -Vazquez et al., 2013), customer behavior (Yi & Gong, 2013), co-creation mechanism (X. Zhang & Chen, 2008), collaborative network business (Romero & Molina, 2011) and multi-focus strategy (X Zhang, Ye, Chen and Wang, 2011). Although the previous works listed contribute to value co-creation, this research focuses on the proposition of Prahalad and Ramaswamy (2004) by applying dialogue, accessibility, risk and benefit; and trust element or abbreviated DART concept as shown in Figure XX. This research focuses on how DART elements influence each other and enable knowledge sharing between the company and customers. The following section discusses the four elements of the DART concept.