From the Old Economy towards the New Economy: Managing the Transformation from the Marketing Point of View

The customer and his needs are the origin of all value creation. From people no longer producing and consuming in one act arises the division of labor and, thereafter, the requirement of combination of those many single activities undertaken by many different people or organizations. The economy’s stage of development, the creation and distribution of knowledge within the economy, as well as cultural and other historical factors influence the processes of value creation, capture and protection. The transformation from the assumed old economy towards the assumed new economy is a typical example of that.