Mapping value in business markets: An integrative framework

The value concept is key to understanding purchasing and marketing decisions in business markets. Despite its importance, a lack of clarity surrounding the conceptualization of value in business-to-business markets persists. This paper develops an integrative framework that identifies the various conceptualizations of value and maps the most often cited value papers published in IMM on this framework. The integrative framework makes distinctions between the value beneficiary (i.e., collective and individual value perceptions), the underlying value perspective (i.e., customers' and suppliers' value perceptions), and the reference object of value (i.e., transactional value based on expectations or experiences, and value of relationships). Positioning the IMM citation classics papers on this integrative framework allows us to identify core areas and promising research avenues for this key concept. In particular, we identify a need to further explore individual actors' value perceptions and the usage processes that lead to experienced value in use in business markets.     

What messages to post? Evaluating the popularity of social media communications in business versus consumer markets

Although social media usage in business markets continues to grow, managers still struggle with designing popular brand message posts. This research investigates the key factors that contribute to Facebook brand content popularity metrics (i.e., number of likes and comments) for Fortune 500 companies' brand posts in business-to-business (B2B) versus business-to-consumer (B2C) markets. Building on psychological motivation theory, the authors examine key differences in B2B and B2C social media message strategies in terms of branding, message appeals, selling, and information search. Using Bayesian models, they find noteworthy differences in the propensity of viewers to popularize brand posts. Specifically, the results indicate that the inclusion of corporate brand names, functional and emotional appeals, and information search cues increases the popularity of B2B messages compared with B2C messages. Moreover, viewers of B2B content demonstrate a higher message liking rate but a lower message commenting rate than viewers of B2C content.     

Can cooperation drive the success of suppliers in B2B crowdsourcing innovation projects? A large scale data perspective

Crowdsourcing innovation projects (CIPs), that enterprises outsource the non-core projects to outside individuals or organizations for innovation, are critical forms for business to business (B2B) innovative service collaboration. Based on value network theory, this paper investigates whether cooperation is a critical influencer of supplier performance and examines how suppliers in CIPs can achieve and maximize value capturing under the customer value dominant condition. Large-scale data is collected from >110,000 CIPs suppliers from 2010 to August 2018 on Kaggle, one of the most well-known crowdsourcing platforms. According to econometric calculation results: 1) Suppliers' predominant capabilities and resources contribute to their workforce and financial performance improvement. 2) Excessive competition intensity has a negative impact on suppliers' performance. 3) The cooperation between suppliers is extremely important for their performance. More detailed, the accumulation of cooperation experience, the increase of partners and the heterogeneity of members in the organization have positive impact on suppliers' workforce and financial performance. The results demonstrate that for suppliers in the CIPs platform, cooperative is more optimal than competitive. The cooperation is more significant when the needs of customers are gaining more and more attention. Therefore, suppliers should explore a more flexible way of cooperation to achieve value capture. Subsequently the value balance between demanders and suppliers can be achieved.     

How business customers judge customer success management

In business-to-business markets, customer success management is gaining growing practical importance. The concept comprises customer-related activities that aim at monitoring, securing and enhancing customer success as well as the implementation of the corresponding organizational structures and processes within the supplier firm. In contrast to existing research, this article takes a customer perspective to customer success management and investigates how business customers judge respective supplier activities; first, to reveal the quality dimensions business customers apply when assessing suppliers' customer success management activities, and second, to investigate how the quality of suppliers' customer success management activities leads to business customers' perceived value. Addressing these questions, this research contributes to literature by exploring customer success management from a customer perspective. The findings elucidate that customers' perceived value in use does not simply develop over time. Rather, through the implementation of customer-related activities of customer success management, suppliers can actively influence customers' value-in-use experiences thus fostering customers' rebuy decisions. From managerial perspective, the findings support suppliers in successfully shape their customer-oriented customer success management activities as well as the necessary internal structures and processes.     

The power of emotional value: Moderating customer orientation effect in professional business services relationships

Just recently, the literature has established the existence of a dark side with regard to customer orientation (CO) in terms of sales performance. However, no clear position is presented about the possible dark side of CO when it comes to B2B relational outcomes, preventing managers from knowing when to accentuate/suppress CO activities. The aim of this study is to examine the relational consequences of suppliers' CO seen through the customers' lenses, and to investigate the moderating role of perceived emotional value in a professional service relationship context. A conceptual model anchored in value and relationship marketing theories is tested on a sample of 226 professional service firms' business customers, using the PROCESS routine. The study finds that perceived CO is related to satisfaction with the relationship and with relationship performance in an inverted U-shaped form, while satisfaction is positively related to relationship performance. We show that, although preferring to receive CO from their supplier, customers might want a relationship that is not as intense/comprehensive as the one that the supplier aims to achieve. The study unfolds emotional value as a moderating mechanism that can prevent the diminishing effect of CO activities.     

The impact of entrepreneurial orientation on B2B branding and business growth in emerging markets

This study examines the relation between entrepreneurial orientation and brand orientation in industrial small and medium-sized enterprises (SMEs) and the extent to which the two contribute to business growth in emerging markets. The authors develop and empirically test a structural model using data collected from Hungary, a country that has undergone a political and economic transition during the past two decades since the fall of the iron curtain. The results show that entrepreneurial orientation has a positive effect on business growth in emerging markets, whereas brand orientation has an adverse effect. Furthermore, the study examines whether there are differences (1) between B2B firms and B2C firms operating in emerging markets and (2) between B2B firms operating in emerging markets (Hungary) and in developed markets (Finland). The results from comparative analyses suggest that while B2B firms and B2C firms do not differ significantly from each other, there are notable differences between emerging markets and developed markets. Specifically, the study finds that although brand orientation does not contribute to business growth in Hungarian B2B firms, it has a positive effect on growth in B2B firms operating in Finland.     

A literature review and future agenda for B2B branding: Challenges of branding in a B2B context

The existing body of research knowledge on brand management has been predominantly derived from business-to-consumer markets, particularly fast moving consumer goods and has only recently started to expand in other contexts. Branding in business-to-business markets has received comparatively little attention in the academic literature due to a belief that industrial buyers are unaffected by the emotional values corresponding to brands. This paper provides a critical discussion of the fragmented literature on business-to-business branding which is organized in five themes: B2B branding benefits; the role of B2B brands in the decision making process; B2B brand architecture; B2B brands as communication enablers and relationship builders; and industrial brand equity. Drawing on the gaps and contradictions in the literature the paper concludes by proposing an agenda for future research.     

A transition from goods-dominant to service-dominant exchange logic in a B2B relationship: A relationship positioning perspective

The study complements the dominant interpretations of positioning in marketing management research by introducing a relational perspective on positioning in the industrial markets. Instead of focusing on products, brand, or company image only, the study focuses on the exchange logic of the relationship. The study suggests that exchange logic of the relationship i.e. relationship logic comprises a fundamental unit of positioning in the industrial markets. Accordingly, the study defines that relationship logic stems from the dynamics of the action, structural and management dimensions that integrate the buyer and supplier organizations into their mutual relationship. Through a longitudinal empirical study of a relationship between buyer and supplier companies in the food service industry, we show how the relationship has been repositioned from goods-dominant to service-dominant relationship logic. The results reveal elements on the action and structural dimensions, their mutual dynamics and managerial reframing actions that catalyze changes in the relationship logic, i.e., reposit the relationship. The results are organized into a framework that delineates the relationship positioning dimensions, and discusses the implications of such relationship positioning to guide further academic research and managerial practice.     

The industrial brand personality scale: Building strong business-to-business brands

To remain distinct and build strong business relationships in a competitive business-to-business (B2B) environment, an increasing number of industrial marketers attempt to exploit the potential of branding. However, brand management in the industrial sector is still at its starting point. For this reason, the authors introduce the concept of brand personality to industrial markets. Based on a series of qualitative and quantitative studies, the authors develop and validate an Industrial Brand Personality Scale. Furthermore, they examine whether brand personality perception differences exist among different types of industrial transactions and among different members in the buying center. The analysis yields a framework for theoretical discussion and provides B2B managers with a tool to build strong B2B brands in an increasingly competitive industrial market.     

Antecedents and consequences of the quality of e-customer-to-customer interactions in B2B brand communities

The opportunities that interactions in business-to-business (B2B) brand communities offer companies as well as brand community members have already been recognized by B2B firms, but are still an underexplored field of B2B academic marketing research. To provide a first step in analyzing B2B brand communities, we develop a conceptual framework of the quality of customer-to-customer (C2C) interactions in B2B brand communities by drawing on several theories and concepts (e.g., social exchange theory, uses and gratifications approach and value-in-the-experience). Based on an online survey (n = 330) spanning three virtual B2B brand communities in the IT-sector, we test our framework using structural equation modeling. Our results reveal that brand trust has a positive impact on brand community trust. Brand community trust leads to an increase in the quality of C2C interactions in B2B brand communities. Furthermore, we demonstrate that the quality of C2C interactions in B2B brand communities has a positive impact on functional, experiential, and symbolic brand community benefits, which, in turn, foster brand loyalty.     

Industrial brand value and relationship performance in business markets — A general structural equation model

This paper develops a general model of industrial brand value and relationship performance in business-to-business markets from the perspectives of consumer and industrial marketing literature. The structural equation model integrates the analysis of industrial brand value and relationship performance. The model describes the extent to which supplier-buyer transaction performance is influenced by the eight important factors: supplier competence, purchasing value, customer satisfaction, switching cost, brand trust and loyalty, relationship quality, commitment, and transactional performance.The general model is applied to organizational buyer groups of comprehensive industrial markets (Electronics, Chemicals, Equipment, etc). The analysis finds that supplier competence directly affects purchasing value and customer satisfaction, and via purchasing value and customer satisfaction, it indirectly affects commitment, switching cost, brand trust and loyalty. The managerial implications of the study results are also discussed.     

Towards a framework of customer value assessment in B2B markets: An exploratory study

This paper examines the key processes and activities of customer value assessment in business-to-business (B2B) markets. Given that an increasing number of B2B firms are providing combinations of products and services, or integrated solutions, the present study examines customer value assessment from the solution supplier's perspective. Specifically, based on an exploratory field study and in-depth interviews with 18 managers in three different firms, the present study identifies five key processes (i.e., value potential identification, baseline assessment, performance evaluation, long-term value realization, and systematic data management) and 11 related activities involved in customer value assessment in B2B markets, and integrates them into a managerially grounded framework. The findings from this study contribute to the literature on customer value and solution research, and provide useful insights for managers on how to assess the value delivered by their offerings to customers.     

Managing industrial brand equity: Developing tangible benefits for intangible assets

Young and Rubicam's (Y&R) BrandAsset Valuator® (BAV), commonly used to assess brand equity in consumer markets, was applied to assess the brand health of an industrial B2B supplier. Customers were asked questions about perceived esteem, relevance, knowledge and differentiation of the company to find its strengths and weaknesses. The results were then plotted to reveal the overall customer perception of the company and also its competitors. Through this plot, the strategic direction how to improve the brand equity of the company became clear. Evidence suggests that the BAV can be used in industrial markets to assess the brand equity of the firm.     

Creating shared views of customers: Individuals as sense-makers in multinational companies

Global suppliers' relationships with their global customers tend to be complex, as each consists of multiple geographical, technological and functional units. For a supplier to manage these customer relationships, some shared views of each relationship are likely to be needed for consistency of activities. This creates a need within supplier MNCs to make sense of customers. This research focuses on sense-making by individuals in supplier MNCs. It considers individuals acting in the sense-making process a means of creating shared views. A qualitative process research strategy is utilized to uncover this process. As a result, this research recognizes four mechanisms, defined as individual-level behavioral patterns, for creating shared supplier views of the customer: defining, linking, triggering and creating. Furthermore, the study defines the triggers that cause individuals increasingly to share similar or dissimilar views of the customer. These triggers are recognized at different levels of management: within the MNC (i.e., internal cooperation, shared projects, limited customer contacts), at the customer-relationship level (i.e., previous cooperation with the customer) and at the network level (i.e., involvement of third parties).     

Speak to head and heart: The effects of linguistic features on B2B brand engagement on social media

Brand engagement on social media increasingly draws B2B brands' attention as it may produce positive WOM and bring branding and financial benefits. However, B2B marketers face challenges in creating compelling brand posts on social media. Beyond ‘knowing what to post’, what is even more challenging for B2B marketers is a lack of knowledge of ‘knowing how to communicate’, i.e., knowing how to design the non-informational cues in brand posts to stimulate brand engagement and generate social media WOM. This research makes initial attempts to address this gap by investigating the impacts of post language on B2B brand engagement on social media. Building on the model of B2B effective communication and theories in linguistics, we identify six linguistic features (i.e., post length, language complexity, visual complexity, emotional cues, interpersonal cues, and multimodal cues in rich media) that influence brand engagement, captured using Twitter likes and retweets. Through analyzing 229,272 tweets collected from 156 B2B brands in 10 industries, we found that, in general, linguistic features that facilitate the central or peripheral route processing will have positive effects, while those that hinder the processing will have negative impacts on brand engagement. This research contributes to our knowledge of B2B social media communication by revealing the power of brand language in driving brand engagement and introducing linguistics as a valuable conceptual lens for maximizing the benefits of B2B marketing content on social media. This research also highlights the interpretative nature of social media communication – B2B brands must go beyond the content purpose and strategy decisions to consider the specific language use and communication style of the message.     

Sustainably superior versus greenwasher: A scale measure of B2B sustainability positioning

Business-to-business (B2B) buyers are finding it increasingly difficult to judge the true sustainability of supply chain partners (Oruezabala & Rico, 2012). Yet three-quarters of buyers in the OECD report they will dismiss potential supply chain partners who fail to meet sustainability criteria (Pierre, 2008). B2B firms then, cannot afford any confusion over their sustainability practices and positioning. Unfortunately, there are no sustainability positioning measures for firms to assess this, and there is no agreed upon operationalization of a highly sustainable firm vs a weakly sustainable firm. As such, this research creates a B2B sustainability positioning scale and taxonomy. First, interviews with buyers and marketing managers determine perceptions of supplier sustainability practices and defines B2B levels of sustainability. Second, exploratory and confirmatory scale development studies are conducted with 578 experienced industrial buyers. The resulting B2B sustainability positioning scale shows that a sustainably superior positioning for B2B addresses five key factors: (1) sustainability credibility, (2) concern for environmental impact, (3) a careful consideration of stakeholders, (4) resource efficiency, and (5) a holistic philosophy. This scale is intended as a tool to help B2B marketers understand and better leverage their sustainability practices and communications around sustainability.“We're trying to be cleaner and greener: We recycle waste and switch things off. We use paper from responsibly managed forests whenever possible. We ask our printers to actively reduce waste and energy consumption. We check out our suppliers' working conditions...”– The back jacket of books from DK Publishers, 2018.     

Managing customer share in key supplier relationships

Supply base consolidation is an important issue in many business markets. Against this background, the allocation of purchasing budgets across vendors becomes an area of vital interest to suppliers. In the present research, we argue that customer share is a key decision variable in business marketing settings and investigate how a supplier can proactively manage the share of its customer's business. We report the results of a cross-sectional study among purchasing managers in U.S. manufacturing industries. Our findings confirm the role of customer value as an antecedent to customer share in business relationships. The study further shows that customer share influences the stability of key supplier relationships. Rather than displaying a direct impact, our results suggest that trust mediates and dependence moderates the link between customer share and search for alternative suppliers. Based on these findings, we propose a framework for managing customer share in key supplier relationships. Four approaches of how industrial vendors can proactively manage customer share are discussed.     

Service inside: The impact of ingredient service branding on quality perceptions and behavioral intentions

Extant literature on ingredient branding is directed at tangible products but does not account for the role of services as ingredients. For B2B suppliers, however, service is emerging as the dominant route to achieving competitive advantage. The purpose of this research is to investigate how ingredient service brands impact customer preferences on B2B markets. We specifically assess how ingredients might impact industrial buyers' quality perceptions of the end product. By conducting a within-subjects scenario-based experiment among industrial buyers, we find a positive effect of the presence of an ingredient service brand on buyers' perception of the end product's service quality, whether the host brand is of higher or lower quality. The effect is stronger when the quality of the host brand is lower. Furthermore, results indicate that the host brand generally has a stronger impact on the quality evaluation of the end product meaning that an ingredient service brand cannot fully compensate for a lower-quality host brand. For managers, our findings indicate that ingredient service brands provide a cue to product quality of the end product, indirectly improving purchase intentions. As a result, branded service ingredients offer host service brands as well as ingredient service brands a potentially powerful strategy for improving competitive position in B2B markets.     

Stereotypical supplier evaluation criteria as inferred from country-of-origin information

In business-to-business markets, customers can use a supplier's perceived country of origin as a cue in assessing that supplier; this inference making results in stereotypical supplier evaluation criteria which are the basis for country-of-origin evaluations. To date, these criteria have not been established properly by an empirical study. Using a qualitative approach, the current study uncovers a fuller picture of the stereotypical criteria behind this inference. Using the repertory grid method, the authors interview 30 purchasing agents from car manufacturers in three European countries. Through this empirical study, they outline a system of nine categories that are conceptually examined and result in the conclusion that stereotypical supplier evaluation criteria reflect a customer-perceived interpretation of suppliers' organizational competences.     

The value of branding for B2B service firms—The shareholders' perspective

Increasingly fierce competition in many B2B service industries led managers to seek a competitive advantage through branding, as many firms operating in B2C markets have done. Although advertising spending in B2B service industries has soared and branding could be relevant for customers' purchase decisions, the distinct characteristics of B2B service transactions can make the creation of brand equity challenging. Conceptual arguments thus both support and question the net financial value of B2B service brands and, since empirical research on that value is missing, managers are left with no agreed upon and validated guidance. Drawing on observations of the brands and shareholder values of 380 U.S.-based public B2B service firms, this study introduces a shareholder perspective to empirically examine the financial value of B2B service brands. Results reveal that B2B service brands have positive value to shareholders. However, the extent of that value depends on a firm's branding strategy (corporate branding vs. multi-branding) in conjunction with the type of services offered (professional services vs. other B2B services) but not in conjunction with the breadth of services offered (degree of diversification). This research provides new insights for researchers and managers with regard to B2B service brands' value and important contingency factors.