The creation of unique value offerings by entrepreneurs in South Africa
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Date
2019
Authors
Dlamini, Sebenzile Temaswati
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Abstract
The study investigates how sophisticated and advanced entrepreneurs are in terms of customer
benefits (CB), and examines how entrepreneurs incorporate CB in products and unique value
propositions. The basic CB set: functional, symbolic, experiential and cost, is expanded to an
extensive array of sixteen (16) CB.
The study found that all CB are generally already established or implemented. Some CB are
well known, common, well implemented, and elementary to im plement, while others are not.
The implementation of certain CB may require original and innovative thought. Not all CB are
well understood or grasped. A number of CB can still be exploited and developed further. It
commonly occurred that one CB was (mis)t aken for another. Entrepreneurs are not necessarily
well trained and well informed about CB, and generally have need of learning and developing
further in terms of CB, and their application. CB are not that application specific or dependent.
Many of the C B are possible for many of the entrepreneurs and their businesses. In many
instances, the CB may imply further product extensions. Benefit composites are typical.
Additional benefit intricacies include how quickly CB realize, co existence and co occurrence
of CB, complications related to application of CB, and ethical and moral issues related to CB.
Overall, a customer focus may imply a benefit focus.
Creating appropriate product or service attributes that translate into CB, as per customer
demands is vital in the face of fierce competition. Entrepreneurs should be knowledgeable and
skilled in the application of CB if they are to remain the preferred customer choice. The study
unravels entrepreneurs perception of CB and further makes one key recommendation; to the
study the prevalence of knowledge and application gaps with regards to the benefits: Whether
benefit knowledge gaps continue to exist, and whether the application of certain benefits still
lack, after awareness of the benefits have been corrected an d improved.
Keywords: entrepreneurship, innovation, value, value
creation, unique value proposition,
marketing, customer benefits.
Description
MBA
Keywords
Business enterprises -- Valuation. Corporations -- Valuation.