The value creation process transforms the outputs of the
strategy development process into programs that both
extract and deliver value.
The three key elements of the
value creation process are
(1) determining what value the company can provide to its customer
(2) determining what value the company can receives from its customers
(3) by successfully managing this value exchange, which involves a process of cocreation or coproduction, maximizing
the lifetime value of desirable customer segments.