Abstract
The value proposition (VP) is the core element that makes any business model viable. This also applies to circular business models that promote slower consumption cycles and longer active product longevity. However, specific guidelines, strategies and recommendations for designing VPs that can prolong the product lifetime are lacking. Moreover, there is a need for strategies that have proven to work in practice, as research shows several examples of products with new circular VPs that are rejected by the customer when they are implemented. This study explores how 17 best practice companies approached the longevity challenge to create long-term VPs, based on framing and reframing theory from innovation literature. The study results in seven reframing strategies that suggest alternative ways to approach the design of VPs that promote product longevity. Hence, the study contributes with some much-needed input regarding practical and applicable strategies to create superior or unique customer experience that prolong product lifetimes.
Original language | English |
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Journal | Circular Economy and Sustainability |
Volume | 3 |
Issue number | 4 |
Pages (from-to) | 2009-2035 |
Number of pages | 27 |
ISSN | 2730-5988 |
DOIs | |
Publication status | Published - Mar 2023 |
Keywords
- Case study
- Circular business model innovation
- Circular business models
- Product lifetime extension
- Product longevity
- Reframing
- Value proposition