In Search of an Integrating Product Model : Integrating Consumer Behaviour and Customer Value

Abstract: Background: The concept of the product is a multi faced problem, and involves issues such as core value, tangible and intangible products, services, warranties etc. It is a thick jungle of information regarding what a product can be said to be. Closely linked to the concept of the product are also the terms buying behaviour and value. The first term, buying behaviour, is the understanding of what precedes the purchase, and the second refers to the customer’s perceived value. We believe that these three important concepts have not been sufficiently explored as one. We will investigate the concepts individually and finally join them together as one model. Purpose: We set out to create a model that integrates the concepts of consumer behaviour and value with the concept of the product. Method: The study is to a large extent theoretical. A small number of interviews have been conducted at the two automotive companies Saab and Porsche, and also with owners of these cars respectively. This empiricism complements the thesis, and shows examples of how theory exists in practice. Results: We have found a way of effectively combining the three concepts product, value and buying behaviour - a model that explains how value and buying behaviour are integrated into the product concept. Our results should be interesting for anyone wanting to understand that products should be considered as more than just the physical object. Products are also closely connected with intangible issues like lifestyle, belonging, image etc. The concept of the product can better be understood when looking at the product in this"three-dimensional"way. We wish the reader much pleasure.