STRATEGIC MODELS FOR MANAGING CONSUMER VALUE IN THE CONTEXT OF BUSINESS ENVIRONMENT DIGITALIZATION AND GLOBALIZATION
Abstract
The article explores approaches to the formation and management of consumer value in the modern context of digital transformations and globalization processes, which significantly impact the business environment. Strategic models and tools that allow companies to enhance their competitiveness by creating value propositions for consumers, adapted to the demands of the digital economy and global markets, are examined. The main challenges related to digitalization are analyzed, as well as the ways to leverage digital technologies to improve the quality of customer interaction, expand markets, and optimize business processes. The importance of understanding consumer needs in a globalized world and utilizing analytical tools to create individualized value propositions is demonstrated. The article establishes that the analysis of consumer behavioral patterns is an important aspect of marketing research. Important current reasons are highlighted: changes in consumer expectations and behavior (personalization, omnichannel); competition and differentiation (competition, innovation); improvement of consumer experience (satisfaction of needs, loyalty); efficiency of business processes (resource optimization, data analysis); technological trends and digitalization (Big Data and analytics, automation technologies); sustainable development and social responsibility. The process of identifying and researching key behavioral models and the stages of influence of models on management decisions are presented. The main methods for assessing effectiveness have been examined, as well as the process of analyzing results, and corresponding recommendations have been formulated. It has been proven that continuous analysis and adaptation of strategy to changing market conditions will help ensure sustainable business success, staying at the forefront and responding to market challenges. It has been established that effective strategy management is critical for ensuring the sustainable success and competitiveness of the organization. Examples and results of implementing strategies based on behavioral science models are presented.
References
Barney J.B. & Hesterly W.S. (2020). Strategic Management and Competitive Advantage: Concepts and Cases. 7th Edition. Pearson.
Fornell C. & Larcker D.F. (2019). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research. № 56(5). Рр. 717−732.
Grewal D. & Levy M. (2023). Emerging trends in marketing strategy and consumer behavior. Journal of Retailing and Consumer Services. № 64. Рр. 102−119.
Hitt M.A., Ireland R.D. & Hoskisson R. E. (2021). Strategic Management: Concepts and Cases: Competitiveness and Globalization. 13th Edition. Cengage Learning.
Kotler P. & Keller K.L. (2020). Marketing Management. 15th Edition. Pearson.
Kumar V. & Shah D. (2021). Broadening the understanding of customer value: A comprehensive review and future research agenda. Journal of Marketing. № 85(2). Рр. 123−148.
Lemon K.N. & Verhoef P.C. (2020). Understanding customer experience throughout the customer journey. Journal of Marketing. № 84(4). Рр. 69−96.
Mullins J.W. & Komisar R. (2021). The New Business Road Test: What Entrepreneurs and Investors Should Do Before Launching a Lean Start-up. 4th Edition. Pearson.
Rust R. T. & Huang M.-H. (2022). The service value chain: A new model of customer value creation. Journal of Service Research. № 24(1). Рр. 45−60.
This work is licensed under a Creative Commons Attribution 4.0 International License.