A Conceptual Framework of Customer Value Proposition of CCU-Formic Acid Product

Abstract

This paper aims to develop a comprehensive conceptual framework of the customer value proposition of formic acid as an actual outcome of carbon capture and utilization (CCU) to support clean production and environmental sustainability worldwide. This study included different phases. The first phase was an extensive reading of the literature, followed by a content analysis of the selected literature. The aim of the content analysis was to identify key concepts and the general categories of these concepts. The final phase was a content analysis of the selected literature with the purpose of identifying the relationship between concepts. The outcome of this paper is to provide a comprehensive framework of the customer value proposition of the CCU–formic acid product and consequently support global research efforts in sustainability. This framework contains two general dimensions: market knowledge and customer value. The first dimension includes five variables: the customers’ acceptance of CCU technology, the customers’ intention to purchase formic acid produced by CCU technology, the degree of customers’ knowledge about CCU technology, the customers’ readiness for environmental issues, and the market segments of formic acid product. The second dimension includes seven variables: ecological benefits, the ecological risk of CCU, varieties of formic acid use, the pricing policy of formic acid, the variety of formic acid packages, the order size, and the order frequency of formic acid. The relationship between variables was identified according to the literature and hypotheses were developed. This study has attempted to build a more comprehensive framework containing all proposed value dimensions and market knowledge as well as identifying the relationships between variables.