Creating New Markets in the Digital Economy

Irene Ng is Professor of Marketing and Service Systems and Director of the International Institute of Product and Service Innovation (IIPSI) at WMG, University of Warwick. She was an entrepreneur for 16 years as CEO of SA Tours, one of the largest tour operators in Southeast Asia, and the founder of Empress Cruise Lines, which she had built into a venture worth US$250 million in annual turnover by the time she sold it in 1996. Since becoming an academic in 1997, Professor Ng has received global recognition for her work in value, new business models and service systems, with 22 journal articles, three books and national appointments such as the ESRC/AIM Services Fellow in 2008 and ESRC/NIHR Fellow in 2009.

Creating New Markets in the Digital Economy looks at how digitisation is radically changing the way we buy and experience products and services. Sharing her unique perspective of both business and academia, Irene Ng examines the implications of digital connectivity, including the need to design and scale future business models to better fit 'lived lives', creating value as well as increasing worth so that new markets can emerge. The book provides a conceptual framework and practical advice to equip readers with the knowledge they need to develop future products and services that take advantage of connectivity and serve contexts better. With its accessible language, numerous case examples and illustrations to illuminate challenging concepts, this book is an important resource for business leaders, entrepreneurs and policy makers, as well as students of service science, business and engineering.

Sharing her unique perspective of both business and academia, Irene Ng examines the implications of digital connectivity for business, with a focus on new business models and the personalisation of products and services. This book is an important resource for business leaders, entrepreneurs and policy makers, as well as students.

Preface; 1. Introduction and impact of digitisation on markets; 2. Back to basics - what is value?; 3. Value and context; 4. Lifting the lid off context: the contextual experience; 5. Value and exchange; 6. Rise of the digital economy; 7. Back to basics in value creation - a theory of latent demand; 8. Value propositions and new business models; 9. Creating viability and worth; 10. Markets, digital labour and new economic models; Postscript; Bibliography; Index.