Friday, July 24, 2015

The Naples Forum on Service -- Co-Creation of Value, and FairPay as Co-Pricing


The presentation deck is online:
Co-Pricing: Co-Creating Customer Value Through Dynamic Value Propositions


I presented the concepts of FairPay -- in collaboration with two prominent professors of marketing -- to international leaders in an emerging branch of marketing theory at the Naples Forum on Service on June 11th. It was very encouraging to see how the work I have done from a pragmatic, non-academic perspective resonates with those at the leading edge of theory.

This 5th Naples Forum on Service is dedicated to the areas of Service Science, Service-Dominant Logic (in contrast to traditional Goods-Dominant Logic), and Network Theory, which all relate to emerging recognition that business is really about the "co-creation of value" by consumers, service providers, and other "actors," and that the production and sale of goods (which provide "value-in-use") is just one aspect of this larger concept of service. This has become a focus not only in academia, but in forward-thinking companies like IBM.

FairPay and Co-Pricing

My collaboration with Adrian Payne and Pennie Frow began when I contacted Adrian about his pioneering book on Relationship Marketing, with the idea that FairPay was very aligned with his thinking.  That led to discussions of his more recent work on business as co-creation (see Strategic Customer Management by Adrian and Pennie), and how that involves many co-creation activities, including co-pricing.  The theoretical ideas of the co-pricing aspect have not yet been well developed, partly because examples of co-pricing (like value or outcomes-based pricing, and pay what you want) have been limited in applicability relative to other, more studied, aspects of co-creation. 

We think FairPay has immediate potential to radically change business practices in a way that puts a powerful new form of co-pricing at the forefront of digital content businesses (as described throughout this blog).  Likely initial applications are for digital offerings to consumers in markets such as journalism, e-books, music, video and other content, as well as games and other apps -- both directly between service providers and consumers, and via aggregator/distributor platforms. 

The slides from our presentation are now available on online, and the abstract is now published in the book of abstracts (page 51).

Research Directions

My experience at The Forum reinforced my personal view that FairPay (or a variation on its theme) will not only change a wide swath of business, but will also change the theory of marketing and economics more broadly. My work on FairPay highlights how current practices in pricing fail to correlate well to value-in-use -- and it is value-in-use that is at the core of our markets (whether we recognize it or not). Whether in practice, or just as a thought experiment, thinking more about practical ways to make prices better correlate to value-in-use (and to view that over relationships, not just transactions) will enable us to change how our economy works, and very much for the better for all.

Collaborators?

Adrian, Pennie, and I have started on a more formal paper -- and we seek other collaborators who can help us do field trials of FairPay.  This could be an unusual opportunity to do research that not only advances theory, but potentially gains wide recognition from managers and the general public -- by solving urgent problems in finding good business models for the rapidly evolving digital space. (If you have interest in assisting, or suggestions of those who might, please contact me: fairpay [at] teleshuttle [dot] com.)

26 comments:

  1. This comment has been removed by the author.

    ReplyDelete
  2. Tracking Maintenance Work Orders Field service management software, field service scheduling software, Get the latest end to end job tracking as well as field service management software and mobile app, intuit field service management, field service management app, field service tracking app, best job tracking app, QuickBooks, Free Demo.

    ReplyDelete
  3. I think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article. website

    ReplyDelete
  4. Immigrants in New Zealand represent 25.1 percent of the total number of immigrants in the world. The ethnic diversity of New Zealand is diverse according to a fractionalization scale based on ethnicity. http://www.confiduss.com/en/jurisdictions/new-zealand/demographics/

    ReplyDelete
  5. A really nice blog where we can found useful information.Thanks you.
    Namak Ishq Ka

    ReplyDelete
  6. I am very much pleased with the contents you have mentioned. I wanted to thank you for this great article. Atlanta Limousine

    ReplyDelete
  7. You can apply for, update, renew or replace a passport online. apply for my id online

    ReplyDelete
  8. I’m not sure where you’re getting your info, but great topic. I needs to spend some time learning much more or understanding more. Thanks for excellent information I was looking for this information for my mission. UnitedFinances most trusted 1500 dollar loan today

    ReplyDelete
  9. You are not the average blog writer, man. You certainly have something powerful to contribute to the World Wide Web. Such a outstanding blog. Ill come back again for more. Project X Real Life

    ReplyDelete
  10. Impressive content! I actually taken pleasure in all the analyzing. I’m hoping to share a good deal more from your website. You will find you got impressive look and additionally ideas. I’m now very shocked in this particular information and facts. NFL Overtime

    ReplyDelete
  11. Such a wonderful blog! This is really superb and thanks for your sharing with us...
    contract dispute resolution process
    contract dispute settlement agreement

    ReplyDelete
  12. Some truly interesting information, well written and generally user friendly . F1 Driver

    ReplyDelete
  13. I believe this is among the such a lot important info for me. And i’m satisfied reading your article. But want to statement on some normal issues, The site taste is perfect, the articles is really great : D. Excellent task, cheers Domain and Range

    ReplyDelete
  14. when i am watching action movies, i really love to see bruce willis in it., Another Phone

    ReplyDelete
  15. my sister and i loves to read christian books because it inspires us to live life in its fullest* el mejor tarot del amor gratis

    ReplyDelete
  16. Hey there, You have done a fantastic job. I will definitely digg it and personally suggest to my friends. I’m sure they’ll be benefited from this site. tarot del amor gratis

    ReplyDelete
  17. This comment has been removed by the author.

    ReplyDelete
  18. Excellent! “Your blog post was incredibly engaging and well-written! I appreciate the level of detail and research you put into your writing. It's evident that you have a deep understanding of the topic, and your insights were enlightening. Thank you for sharing such valuable information!"
    I am a Digital Marketing Trainer at Digital Marketing Training Institute Noida providing best digital marketing training at an affordable price with highly qualified and experienced trainers.

    ReplyDelete
  19. I need to say thank you for sharing this nice blog.
    https://www.caryfixedincome.com

    ReplyDelete
  20. Don't let the heat get the best of you. Contact HelloMistri for reliable and efficient AC service in Delhi. Experience the difference between a well-maintained and perfectly functioning cooling system. Stay cool, stay comfortable!

    ReplyDelete
  21. "Unlock the Power of Data Manipulation with Excel VBA Programming Training at Softcrayons Tech Solution

    In the digital age, data is the driving force behind informed decisions and efficient processes. Microsoft Excel stands as a stalwart in data management, and with the added capabilities of Visual Basic for Applications (VBA), its potential becomes limitless. Softcrayons Tech Solution proudly presents a transformative opportunity to master Excel VBA Programming through our comprehensive training.

    Empowering Your Excel Skills with VBA Programming

    Excel VBA Programming is a dynamic skill that combines the functionalities of Excel with the automation prowess of VBA. This synergy allows professionals to streamline tasks, manipulate data, and create custom solutions, elevating the efficiency of their workflow.

    Why Choose Softcrayons Tech Solution?

    Experienced Instructors: Our skilled instructors bring real-world experience into the classroom, ensuring that you grasp both the theoretical foundations and practical applications of Excel VBA Programming.

    Hands-On Learning: Learning by doing is our motto. Through interactive sessions and practical exercises, you'll gain hands-on experience in creating macros, automating tasks, and enhancing data analysis.

    Comprehensive Curriculum: Our curriculum is meticulously designed to cover the essential aspects of Excel VBA Programming. From basic macros to advanced automation, you'll acquire a comprehensive skill set.

    Real-World Projects: Put your knowledge to the test with industry-relevant projects. Whether it's automating reports or building customized tools, you'll develop a portfolio that showcases your expertise.

    Supportive Community: Learning extends beyond the classroom. Engage with fellow learners, participate in discussions, and receive guidance from instructors to ensure a well-rounded learning journey.

    Career Advancement: Mastering Excel VBA Programming opens doors to a variety of roles that require data manipulation and process optimization skills. We provide career guidance and placement support to help you succeed.

    Embark on Your Excel VBA Journey Today

    Softcrayons Tech Solution's Excel VBA Programming Training is your passport to elevating your data management skills. From automating repetitive tasks to unleashing the full potential of Excel, this training equips you with the tools to excel in the professional world.

    Don't miss this opportunity to expand your skill set and position yourself as a proficient data handler. Enroll now and embark on a journey of empowerment through Excel VBA Programming!"

    visit us for more infamation: https://www.softcrayons.com/excel-vba-programming-training

    ReplyDelete