Understanding Conceptualizations of Value in Marketing and Consumer Research
|Speaker:||Dr. Eminegül Karababa, Assistant Professor at the Middle East Technical University|
|Date:||Friday 1 February 2013|
|Location:||Bateman Lecture Theatre: Building One|
The notion of value is a notoriously elusive concept in marketing and consumer research, often applied implicitly in the context of particular conceptual dialogues, reflecting a general problem in Western social as science as such (Graeber 2001, Miller 2008, Zeithaml 1988). These various understandings of value have their basis in fundamental assumptions of different theoretical approaches in social sciences such as economics, psychology, sociology, and anthropology. Different context dependent notions of value—such as use value, exchange value, aesthetic value, identity value, instrumental value, economic value, social values, shareholder value, symbolic value, functional value, utilitarian value, hedonic value, perceived value, community values, emotional value, expected value, and brand value—are frequently used without having an explicit conceptual understanding in marketing and consumer research. Recently Consumer Culture Theory (CCT), Service Dominant Logic (SDL), and branding research suggests a need for an explication and more conceptually grounded synthesis of these different conceptions of value (e.g. Arvidsson 2006; Domegan et al 2011; Holbrook 1999; Peñaloza and Mish 2011; Vargo, Maglio, and Akaka 2008). In this study, our aim is to start a dialogue on how to develop a comprehensive and culturally informed understanding on the notion of value and hence value constitution addressing the contemporary multifariousness and elusiveness of the concept in contemporary marketing theory.