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Creating new markets in the digital economy : value and worth

Author: Irene C L Ng; Elizabeth Shi-Yin Ho
Publisher: New York : Cambridge University Press, [2014] ©2014
Edition/Format:   Print book : EnglishView all editions and formats
Creating New Markets in the Digital Economy looks at how digitisation is radically changing the way we buy and experience products and services. Sharing her unique perspective of both business and academia, Irene Ng examines the implications of digital connectivity, including the need to design and scale future business models to better fit 'lived lives', creating value as well as increasing worth so that new  Read more...
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Document Type: Book
All Authors / Contributors: Irene C L Ng; Elizabeth Shi-Yin Ho
ISBN: 9781107049352 1107049350 9781107627420 1107627427
OCLC Number: 854541686
Description: xx, 238 pages ; 23 cm
Contents: Introduction and impact of digitisation on markets : Evolution of music to media content as a case study ; The new battleground in digitisation --
Back to basics; what is value? : Atomistic value ; Phenomenological value ; Money changes everything ; Goods-dominant logic ; Enter the world of business ; Back to first principles: a service-dominant logic --
Value and context : Value-creating outcomes ; Context: the new focus for value creation --
Lifting the lid off context: the contextual experience : The scope of the context as a system ; The elements in context ; The structural and systemic context ; The individual in context ; The emergent outcomes from value co-creation in context --
Value and exchange : Assessing worth ; Advanced-based exchanges ; Outcome-based exchanges ; Context-based exchanges. Rise of the digital economy ; Hyper-connectivity and IoT ; Serving contexts ; Visibility of the self: empowerment and service ; Visibility of groups: collective action ; Digital backwash --
Back to basics in value creation: a theory of latent demand : Latent needs from existing social connectivity ; Latent needs for information ; Latent needs from contextual variety of experience (CVE) ; Latent needs from resource catalysts in contexts ; From needs to wants: de-institutionalising existing solutions ; A solution that doesn't yet exist: effectual reasoning ; Accommodating new solutions: creating modularity ; From solutions to markets --
Value propositions and new business models : Mindset change 1: Customer as competency of the firm's value proposition ; Mindset change 2: Value proposition sits in the constellation of value creation ; Value proposition as an outsourced proposition ; Value proposition as an empowering proposition ; Value proposition as achieving outcomes ; Differences between the design of solutioning and outcome-based value propositions ; Value proposition as platform ; New business models ; Value constellation maps and theorising on disruptive business models. Creating viability and worth : Commercial viability ; The changing landscape of manufacturing and service ; Revenue models for creating worth from value creation ; Market incentive mechanisms ; Value and worth: a divide --
Markets, digital labour and new economic models : Multi-sided markets ; Network effects ; Spiralling digital demand ; Commodification ; New economic models for personal data ; Utopia or dystopia --
Postscript : Implications for marketing and operations ; The IoT: agenda for the future.
Responsibility: Irene C.L. Ng ; Cover image and cartoons created by Elizabeth Shi-Yin Ho.


This book provides practical advice to help readers innovate and identify new business models, products and services within the connected digital economy.  Read more...
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'In Creating New Markets in the Digital Economy, Professor Ng skilfully makes the extremely difficult topics of 'value' and its creation accessible to the novice reader while, at the same time, Read more...

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