Modeling and prediction of monetary and non-monetary business values
2013 (English)In: 2013 17th IEEE International Enterprise Distributed Object Computing Conference (EDOC), IEEE , 2013, 153-158 p.Conference paper (Refereed)
In existing business model frameworks little attention is paid to a thorough understanding of the perceived customer value of a business' offering as compared to competing offers. In this paper, we propose to use utility theory in combination with e3value models to address this issue. An actor's joint utility function specifies how much value the actor attaches to a given product or service's different qualities. Competing value offerings map to different points on the customer utility function, since they provide certain quantities of each quality. Since the customer can be expected to exhibit a utility maximizing behavior, his/her choices between offerings can be predicted. Thus, given the proposed utility extension, it becomes possible to quantitatively reason about the relative customer value of an offering compared to those of the competition. This, in turn, allows the optimization of price, the key ingredient in any business model.
Place, publisher, year, edition, pages
IEEE , 2013. 153-158 p.
, International Enterprise Distributed Object Computing Conference. Proceedings, ISSN 1541-7719
e3value, busines models, business value, utility, profitability analysis
Electrical Engineering, Electronic Engineering, Information Engineering
IdentifiersURN: urn:nbn:se:kth:diva-138536DOI: 10.1109/EDOC.2013.25ScopusID: 2-s2.0-84892553510OAI: oai:DiVA.org:kth-138536DiVA: diva2:681308
17th IEEE International Enterprise Distributed Object Computing Conference, EDOC 2013; Vancouver, BC; Canada; 9 September 2013 through 13 September 2013
QC 201402182013-12-192013-12-192014-02-18Bibliographically approved