Chapter Eight
BUILDING NEW STRATEGIC CAPITAL
LET’S START by summarizing the key insights presented so far. The future of competition is being shaped by changes in the meaning of value, the roles of the consumer and the company, and the nature of their interactions—changes that are profoundly altering the value creation process.
As we have seen, the most fundamental change is in the nature of value. Rather than being embedded in the products and services that the firm offers, value is now centered in the experiences of consumers. Because these experiences are influenced not only by the firm but also by individual consumers and consumer communities, value is now co-created by consumers and the firm. Further, value may be influenced not just by ...
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