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I show how company strategies that focus on improving consumer benefits can create value by increasing consumer payments to an entire value system. This “consumer benefit experienced” viewpoint on value creation complements the value capture orientations of the firm positioning, transaction cost, and resource-based approaches. It helps to clarify often-blurred distinctions between value creation and value capture and offers an additional tool for addressing intractable issues in strategic management.
Richard L. Priem (Mon,) studied this question.