In this episode of the Better Value Better Business podcast, host Alex Stacey is taking a look at value creation through the lens of value destruction. There are many ways a consumer and a business can destroy value in products and services and this can, in turn, have catastrophic effects in the short and long term. Join Alex as she explains this principle in detail and how you can learn from the mistakes of others.

KEY TAKEAWAYS

• Alex talks about value destruction through the Covid pandemic and how many consumers had to look elsewhere to find the enjoyment they previously received from products and services.
• Value can also be destroyed when a provider changes their working methods, such as a local business moving to a cashless system.
• Alex talks about how value can be destroyed via a deliberate withholding of resources from either the provider or the consumer and how this can have an effect on third parties.
• Alex talks about the other ways value can be destroyed such as through laziness, carelessness, malice or deception. And how, sometimes, this may be the behaviour of one individual in an organisation but the effects are felt far and wide.

BEST MOMENTS

“Value deconstruction can be accidental or deliberate in terms of accessible resources.”

“Value destruction does not just come from consumers but can manifest internally within organisations.”

“The knock on effect of value destruction is the damage to culture and performance.”

EPISODE RESOURCES

Alex’s Website: www.as-insights.com

Alex’s Instagram: www.instagram.com/alexvci

Alex’s Linkedin : www.linkedin.com/in/alexandrastacey

Alex’s email: info@as-insights.com

ABOUT THE HOST

Alexandra Stacey is fascinated about value and our perceptions of value. She undertook an MSC in Strategic Marketing and Customer Experience Management with the University of Buckingham’s Business School and her dissertation included how value is experienced. Her own life experience includes being a parent, marketer, teacher, project and events manager and musician. She is the founder of AS Insights. This is a business that helps organisations improve through uncovering their stakeholder’s experiences interpreting them through behavioural theories.

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