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The Austrian School of Marketing
Identifying the praxeological building blocks of The Austrian Marketing Process.
Praxeological
Foundation
Empathy-driven value
identification
Branded value
proposition
Value Learning
Cycle
Understanding
How And Why
People Act:
TO RELIEVE
UNEASE
Observe
behaviors
Absolute
Value
Perceived
Contextual
Value
Experience
Evaluation
Relative
Value
Perceived
Willingness
To Pay
Exchange
Value
Social
context
Key
Insights:
Value Potential –
what unease to
relieve
Exploratory
Value
Proposition:
how to relieve
unease
Embed in
brand
(reliability,
trust, reduced
effort)
Renew /
Update
Value
Search
Deduce
specific
unease
Market
context/
ecosystem
Empathy
Reframing
Value
Choose
customer
Value
Adaptation
Loop