Timokhina G.S., Sysoeva T.L., Lyubina E.V.Published in:
Creative Economy
– Volume 11, Number 12 (December 2017)

JEL classification: D12, O00, O10

Keywords: final consumers, institutional consumers, perceived value, value chain management, value system


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Abstract:

This article presents an innovative approach to consumer value chain management within the framework of existing similar type models. The authors think that the effective business process management in company’s core and ancillary activities with the aim of creating consumer value is possible if there is a system of consumer research and information and analytical base that allow studying and understanding needs, benefits, values of final and institutional consumers and society. The authors stress that needs evolve into values in the modern market, and consumer choice of final and institutional consumers is provided by their value system.

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