The construct of value in knowledge-intensive business service from customer’s perspective. An example of a long-term training activity
Tallinn University of Technology, School of Economics and Business Administration,
Department of Business Administration, Chair of Marketing, Akadeemia tee 3,
EE 12618 Tallinn, Estonia
Value is considered to be the driver, as well as the main purpose, of relationships between customers and service providers. Despite the topicality of the subject, service marketing literature provides little information about the process of value creation. The question of how is value formed is topical for a broad scope of services, from healthcare to beauty services, but it is especially relevant for knowledge-intensive business services (KIBS). KIBS are complex offerings that aim to solve customer’s problem by applying competence of service provider (for example consultancies and training services). It happens quite often that those types of services fail to meet the expectations of the customer regarding service value. This mismatch between service value and price charged might come from a broad variety of reasons. This ambiguity of value creation process leads to the research question of the current article: how do clients identify, what the service is actually worth? The current article presents the results of longitudinal qualitative research on service value formation from the customer’s perspective. It aims to provide insights both for researchers as well as practitioners on elements of service, based on which client forms the perception of the value of KIBS and also illustrated the dynamics.