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Article
Publication date: 1 January 2006

David Phillips

To examine how relations with social groups, including shareholders, customers, employees and vendors among other stakeholders are pivotal to generating wealth and…

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3878

Abstract

Purpose

To examine how relations with social groups, including shareholders, customers, employees and vendors among other stakeholders are pivotal to generating wealth and optimising long‐term shareholder value.

Design/methodology/approach

The paper explores the values intrinsic in stakeholder relations and examines why it should be included in the core of evaluation, auditing and management of organisations to create wealth, value and corporate profit.

Findings

The concept of organisations with values that extend from physical assets, intellectual property, process, know‐how, knowledge brand and reputation attributes is understood as being part of the value of companies. Stakeholder relationships are intangible assets and there is a significant body of opinion that identifies intangible assets as a major driver in the global economy, corporate survival and success. There is a pivotal management role in relationship management which is the lever by which value from intangibles is optimised.

Originality/value

Describes how, for companies in the twenty‐first century, the creation of value increasingly depends on intangible assets such as knowledge, systems, data, intellectual property, brands and market relationships. This opens up a new area of public relations practice whereby public relations managers take responsibility for the creation of value through relationships throughout organisations.

Details

Corporate Communications: An International Journal, vol. 11 no. 1
Type: Research Article
ISSN: 1356-3289

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Book part
Publication date: 1 November 2008

Thomas Ritter and Achim Walter

Managers and academics alike focus on value creation in business relationships. This paper adds to existing literature by analyzing functions of business relationships and…

Abstract

Managers and academics alike focus on value creation in business relationships. This paper adds to existing literature by analyzing functions of business relationships and their impact on value perception. Applying a customer perspective, direct relationship functions are concerned about payment, quality, and volume. Indirect functions include innovation, access, and scouting. Furthermore, trust and number of alternative suppliers are included in the study. The empirical results illustrate the important role of direct and indirect functions for value creation. Understanding these functions is instrumental for driving customer value, both for the supplier and the seller. Direct functions do have a much stronger impact on value than indirect functions that still do have a significant impact. Thus, increasing direct function fulfillment is much more effective in order to gain key supplier status than relying only on indirect functions. But indirect functions may offer ample differentiation opportunities. Being a strong driver of relationship value, trust is also driven by function fulfillment. Thus, relationship value depends on rational elements (functions) and social elements (trust). Availability of alternative suppliers increases the importance of relationship function fulfillment on customer value and customer trust. In highly competitive markets, suppliers need clear understanding and communication of relationship value in order to succeed.

Details

Creating and managing superior customer value
Type: Book
ISBN: 978-1-84855-173-2

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Article
Publication date: 9 August 2021

Claudio Minerbo and Luiz Artur Ledur Brito

The existing literature is fragmented across disciplines and does not provide a holistic, comprehensive view on how value is created, deployed and captured. This paper…

Abstract

Purpose

The existing literature is fragmented across disciplines and does not provide a holistic, comprehensive view on how value is created, deployed and captured. This paper aims to provide a structured view of the current literature and facilitates a theoretical understanding of value creation and capture in buyer–supplier relationships.

Design/methodology/approach

A systematic literature review was conducted on 195 articles published in 21 leading journals in marketing, operations management and strategy disciplines.

Findings

An integrated, generalizable and expandable framework is proposed based on the causal or interactive relationship among four components, namely, dimensions of value creation; processes and interactions by which buyers and suppliers enable value creation; relationship characteristics that affect these components; and value capture. Two new areas for future studies are also suggested.

Research limitations/implications

The findings are based on papers published in peer-reviewed academic literature. Future studies could include more heterogeneous publications in languages other than English and/or professional journals to compare scholars' and managers' perspectives.

Practical implications

This study offers simple, practical guidelines that managers can apply in their real-world situations to increase the value they gain from their relationships.

Originality/value

The framework does not pretend to be exhaustive because such an attempt would be impractical. Rather, this study provides practical examples for each component, and shows how additional concepts and constructs can be incorporated to make it inclusive and generalizable. Two new manners of value capture other than price negotiations are presented (volume and collaborative benefits).

Details

Journal of Business & Industrial Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0885-8624

Keywords

Content available
Article
Publication date: 8 April 2021

Lucrezia Coletta, Milena Vainieri, Guido Noto and Anna Maria Murante

This study aims to systematically review the literature on the use of customer value for the evaluation of inter-organizational performance, with a wide perspective…

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1087

Abstract

Purpose

This study aims to systematically review the literature on the use of customer value for the evaluation of inter-organizational performance, with a wide perspective embracing different contexts and settings.

Design/methodology/approach

Searching within the Scopus and ISI Web of Science databases, a systematic literature review has been conducted analyzing 41 papers published between 1991 and 2020.

Findings

Categorization of customer value and inter-organizational performance measures were developed and the main differences among different settings were discussed.

Practical implications

The results presented in this study may be helpful for practitioners and managers who, in the completion of their activities, have to maintain strong and frequent relationships with other organizations. In fact, practitioners and managers interested in enhancing customer value and measuring inter-organizational performance may find an innovative perspective linking the two dimensions. They could find the categorizations presented in this study as a starting point for developing a performance evaluation framework suitable for evaluating their present business relationships. In fact, the categorizations provide a panorama of how scholars have measured until now inter-organizational performance through customer value, and therefore, they could choose the measures more appropriate for their situation.

Originality/value

No systematic literature review of the use of customer value for assessing inter-organizational performance has previously been undertaken, especially considering different settings.

Details

Journal of Business & Industrial Marketing, vol. 36 no. 13
Type: Research Article
ISSN: 0885-8624

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Book part
Publication date: 11 June 2009

Anca E. Cretu and Roderick J. Brodie

Companies in all industries are searching for new sources of competitive advantage since the competition in their marketplace is becoming increasingly intensive. The…

Abstract

Companies in all industries are searching for new sources of competitive advantage since the competition in their marketplace is becoming increasingly intensive. The resource-based view of the firm explains the sources of sustainable competitive advantages. From a resource-based view perspective, relational based assets (i.e., the assets resulting from firm contacts in the marketplace) enable competitive advantage. The relational based assets examined in this work are brand image and corporate reputation, as components of brand equity, and customer value. This paper explores how they create value. Despite the relatively large amount of literature describing the benefits of firms in having strong brand equity and delivering customer value, no research validated the linkage of brand equity components, brand image, and corporate reputation, simultaneously in the customer value–customer loyalty chain. This work presents a model of testing these relationships in consumer goods, in a business-to-business context. The results demonstrate the differential roles of brand image and corporate reputation on perceived quality, customer value, and customer loyalty. Brand image influences the perception of quality of the products and the additional services, whereas corporate reputation actions beyond brand image, estimating the customer value and customer loyalty. The effects of corporate reputation are also validated on different samples. The results demonstrate the importance of managing brand equity facets, brand image, and corporate reputation since their differential impacts on perceived quality, customer value, and customer loyalty. The results also demonstrate that companies should not limit to invest only in brand image. Maintaining and enhancing corporate reputation can have a stronger impact on customer value and customer loyalty, and can create differential competitive advantage.

Details

Business-To-Business Brand Management: Theory, Research and Executivecase Study Exercises
Type: Book
ISBN: 978-1-84855-671-3

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Article
Publication date: 12 April 2021

Vicente Sales-Vivó, Irene Gil-Saura and Martina G. Gallarza

This paper addresses both conceptual and empirical value co-creation and relationship quality in a triadic approach for a B2B industrial context by 1) reviewing the…

Abstract

Purpose

This paper addresses both conceptual and empirical value co-creation and relationship quality in a triadic approach for a B2B industrial context by 1) reviewing the relationship quality concept when social and economic satisfaction are addressed separately and 2) testing alternative models of relationship quality and economic satisfaction when value co-creation is introduced.

Design/methodology/approach

Two alternative models are developed where relationship quality is conceptualized as a higher-order multi-dimensional construct with three sub-factors: trust, commitment and social satisfaction. Data on the B2B relationship were collected from 77 partaking firms in the Spanish Furniture Market Observatory business panel, covering the manufacturer-retailer and manufacturer-supplier relationships for control and comparison purposes.

Findings

Using PLS-SEM, results reflect that social and economic satisfaction act differently in the B2B relationship. The effect of relationship quality on economic satisfaction is greater when value co-creation is introduced as a mediating variable, although this mediation is partial. Moreover, the mediating effect is greater in the manufacturer-supplier relationship than in the manufacturer-retailer one.

Originality/value

The paper reduces the conceptual gap between value exchanges in B2C and B2B contexts. It also introduces a less-common triadic approach along the supply chain for B2B industrial relationships. Evidence is provided on the importance of social satisfaction as an affective dimension of relationship quality and on the mediating role of value co-creation between relationship quality and economic satisfaction.

Details

International Journal of Retail & Distribution Management, vol. 49 no. 7
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 8 April 2021

Sandra Maria Correia Loureiro, Arnold Japutra, Sebastian Molinillo and Ricardo Godinho Bilro

This paper aims to explore tourist perceived value and attachment to intelligent voice assistants (IVAs) as antecedents of the quality of the human–IVA relationship in the…

Abstract

Purpose

This paper aims to explore tourist perceived value and attachment to intelligent voice assistants (IVAs) as antecedents of the quality of the human–IVA relationship in the hospitality domain. This research also examines the moderating role of psychological factors (self-esteem) and knowledge factors (past experience and technology expertise) in the relationships between antecedents and relationship quality.

Design/methodology/approach

The researchers conducted two quantitative studies, collecting data via online surveys in Mechanical Turk (n1 = 124 and n2 = 281). The proposed model was tested using partial least squares structural equation modeling.

Findings

The first study uncovers that tourist perceived value is the main influence on the quality of the relationship between tourists and IVAs. The second study confirms the direct relationships of the first and shows that self-esteem and technology expertise act as moderators.

Practical implications

This study advances the understanding of the tourism and hospitality stakeholders in using modern technologies (e.g. IVAs). Through comprehending the relationship building between individuals and IVAs, the stakeholders will be able to craft better strategies.

Originality/value

The study extends the attachment and social exchange theories to the tourist–IVA relationship context. Specifically, this research demonstrates the impact of tourist perceived value on the quality of the relationship with the IVA. It also points out that tourists’ self-esteem and technology expertise can weaken the tourist–IVA relationship.

Details

International Journal of Contemporary Hospitality Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 5 May 2020

Chukwunonso Oraedu

This paper explores the reasoning surrounding relationship value and quality, and further provides a blueprint on how positive word-of-mouth behaviour can be promoted…

Abstract

Purpose

This paper explores the reasoning surrounding relationship value and quality, and further provides a blueprint on how positive word-of-mouth behaviour can be promoted through different routes.

Design/methodology/approach

Survey strategy was employed with focus on quantitatively developed questionnaires. Informants were recruited through mall intercept. All diagnostic tests, path analyses and, by implication, research hypotheses were conducted using the SEM-PLS technique.

Findings

All the hypothesized relationships were supported. Relationship value directly relates to trust, satisfaction and word-of-mouth behaviour. Value was also indirectly related to word-of-mouth behaviour through the relationship quality construct, but trust stood-out as a better mediator. Trust and satisfaction also came out as antecedents of positive word-of-mouth behaviour.

Research limitations/implication

The relationship between relationship value and the relationship quality construct remains largely under-researched in literatures. This paper serves as a springboard for future research projects to extend understanding on how both constructs interact especially in a Business-to-Consumer (B2C) level. In addition, the paper offers a comprehensive insight on the behaviour of the relationship quality construct when it is tested as a mediator in a causal–effect model.

Practical implications

This study holds that by engineering superior value, a telecom provider is better positioned to build a sound relationship quality network and stimulate positive word-of-mouth through different routes.

Originality/value

Given the dearth of research on this area, this paper represents the first attempt to map out relationship value as an antecedent of relationship quality and word-of-mouth behaviour on a B2C level, and simultaneously explore the direct and indirect behaviour of both constructs in promoting word-of-mouth behaviour in a non-Western setting.

Details

International Journal of Quality & Reliability Management, vol. 38 no. 1
Type: Research Article
ISSN: 0265-671X

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Article
Publication date: 27 May 2020

Sena Ozdemir, Suraksha Gupta, Pantea Foroudi, Len Tiu Wright and Teck-Yong Eng

This study aims to fill a gap in branding literature concerning the effect of corporate brand relationships on brand value through the case study method in a…

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1142

Abstract

Purpose

This study aims to fill a gap in branding literature concerning the effect of corporate brand relationships on brand value through the case study method in a business-to-business (B2B) context. The objectives of this study can be framed in the following three questions: what are the main constituents of a corporate brand; how does a corporate brand generate tangible and intangible brand value for their business customers; and how do tangible and intangible brand benefits influence relationship initiation and management practices of the case companies?

Design/methodology/approach

The study adopts a qualitative multiple cases study design by using archival data and both in-depth telephone and online interviews with senior representatives of the case study companies to investigate corporate branding and associated issues in a B2B context.

Findings

From a managerial perspective, this study reveals that corporate business culture, brand relationships, products and corporate identity and personality as the main constituents of a corporate brand in a B2B context. The results show that a corporate brand can generate intangible and tangible brand value benefits for business customers. The findings also note the importance of brand value in enhancing relationship initiation.

Originality/value

The study contributes to the branding literature by developing a conceptual model that explains the development and role of the corporate brand in a B2B context with its associated value creation and brand management outcomes. The findings advance brand management literature on business relationships, which addresses a gap in B2B contexts rather than mainly about product brand management and value creation in business-to-consumer contexts.

Details

Qualitative Market Research: An International Journal, vol. 23 no. 4
Type: Research Article
ISSN: 1352-2752

Keywords

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Article
Publication date: 28 March 2020

Dario Miocevic

B2B marketing scholarship has acknowledged that relational capital and relationship-specific investments (RSIs) are critical relational drivers for explaining the success…

Abstract

Purpose

B2B marketing scholarship has acknowledged that relational capital and relationship-specific investments (RSIs) are critical relational drivers for explaining the success of business relationships, especially those in an export-import (E-I) context. However, the literature is still inconclusive on whether E-I partners should accentuate relational drivers to the fullest in order to increase relationship value. By drawing on relational view of competitive advantage and literature that explored the dark side of business relationships, the author builds a conceptual model exploring the boundary conditions (historical ties and relational capabilities) upon which relational drivers enhance or diminish relationship value in key E-I relationships.

Design/methodology/approach

To test the proposed model, a survey was conducted among 114 industrial exporters from Croatia. The data was analyzed with the use of confirmatory factor analysis and hierarchical regression.

Findings

This study contributes to the international B2B literature in two ways. First, the findings show that in the case of strong historical ties between E-I partners, relational capital has an inverted U-shape association with the relationship value, whereas in the case of weak historical ties this relationship becomes linear. Second, the findings show that an importer’s RSI will lead to the highest relationship value when an exporter reciprocates through employing relational capabilities through which the exporter adapts his business model to the needs of the importer. In case of an exporter’s weak relational capabilities, the relationship between an importer’s RSIs and the relationship value flips into an inverted U-shape.

Originality/value

This study extends the literature on dark side of business relationships by offering insights into the boundary conditions that are essential for sustaining the relationship value in key E-I relationships. The study reveals that historical ties and relational capabilities represent boundary conditions that offer a more detailed explanation what is the optimal configuration of relational drives that would increase the relationship value between key E-I partners.

Details

Journal of Business & Industrial Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0885-8624

Keywords

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