Relationship value in business markets - Strategic, relational and technological aspects

The concept of value has been studied from many different perspectives within economics and business management studies. Literature on value can be traced back to the areas of strategy, of organisational behaviour, of finance, of bookkeeping, and even of marketing. According to Anderson and Narus (1999; 2004), value «is one of the cornerstones of business market management», and with reference to the importance that the theme of value holds within the branch of industrial marketing, it has not been properly analysed thoroughly yet both as far as the meaning of the word is concerned and the way in which it is produced, transferred, consumed and, at the same time, perceived by actors. This limit was partly gone over with the introduction of the concept of relationship value and with attempts of value measurement which took into account also relationship dimensions as well as more traditional ones concerning exchange and transaction. Starting from these premises, this paper aims at understanding what relationship value represents both for customers and suppliers and how it can be represented. As for methodology 8 dyads and 3 triads (25 in-depth interviews) in the ICT Security Industry have been analysed. The paper is the result of a comparison between a literature review on relationship value and the evidences coming from the empirical study. The output is the identification of a Relationship Value Areas model, within which a business relationship can be positioned on the basis of desired, perceived and generated value concepts.