The Exclusive Value Principle – A Concept for Marketing

Abstract

Codifies a unique marketing and valuation principle: the exclusive value principle (EVP). This principle relates value creation to “psychic space”. Psychic needs can create enormous margins and other benefits. One can influence price/demand as well a create, stimulate, or help define a need for a customer. Attractive margins result from psychic needs as opposed to pure utility fulfilment. Focuses on psychic needs and relationships to price, margins, risk, value. Provides an overview of psychic dimensions and a multidimensional characterization of utility‐psychic space. Principles and perspectives offered are useful in identifying evaluating, targeting and focussing marketing strategy, plans and in product/service design and delivery of customer needs. Recognition of special factors related to psychological dimensions are critical in matching products and services to needs and are fundamental to delivering products and services in the exclusive value category that offer unusual opportunities for profit. Relates the principle to margins, risk assessment, and the opportunity to garner attractive economic profits. Gives overview of factors that give rise to psychic needs, needs satisfaction, and opportunities for market exploitation. Discusses factors that affect the application of the EVP. Gives guidelines useful to determine if the EVP will be of value to your firm.

Citation

Groth, J.C. (1994), "The Exclusive Value Principle – A Concept for Marketing", Journal of Product & Brand Management, Vol. 3 No. 3, pp. 08-18. https://doi.org/10.1108/10610429410067397