Purpose – This paper aims to explore the impact of time on customer behavior and decision making. Even though people factor time into decisions on a daily basis, businesses tend to focus resources and efforts on other aspects of consumer behavior such as pricing and demographics, resulting in many executives overlooking this key element of the customer decision process. Design/methodology/approach – This paper provides a framework for understanding how customers value offerings in relation to time and attention priorities. It also demonstrates the evolution of today's time scarcity in relation to commerce and why it is more salient today using time‐use data. Findings – Companies that understand how customers value time in relation to their offerings were more successful in today's economy and often achieved competitive advantage. Practical implications – The framework guides executives in determining actions and market opportunities for products or services based on a time and attention‐centric mindset. Originality/value – Time‐value economics provides a new lens for organizations to understand how time shapes customer behavior and decisions. The associated framework provides a useful market segmentation model. It enables businesses to identify new innovation opportunities and actions to foster growth.
Strategy & Leadership – Emerald Publishing
Published: Jan 4, 2011
Keywords: Innovation; Consumer behaviour; Corporate strategy; Market segmentation; Business development
It’s your single place to instantly
discover and read the research
that matters to you.
Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.
All for just $49/month
Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly
Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.
Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.
Read from thousands of the leading scholarly journals from SpringerNature, Wiley-Blackwell, Oxford University Press and more.
All the latest content is available, no embargo periods.
“Hi guys, I cannot tell you how much I love this resource. Incredible. I really believe you've hit the nail on the head with this site in regards to solving the research-purchase issue.”Daniel C.
“Whoa! It’s like Spotify but for academic articles.”@Phil_Robichaud
“I must say, @deepdyve is a fabulous solution to the independent researcher's problem of #access to #information.”@deepthiw
“My last article couldn't be possible without the platform @deepdyve that makes journal papers cheaper.”@JoseServera