Providing a model for superior value proposition with emphasis on developing a unique marketing strategy for the company using of Grounded theory
Subject Areas :Keywords: superior value propositions perceived value marketing outcome financial outcome food products ,
Abstract :
The purpose of the present study is to provide a model for creating the superior value proposition through strategic focus on designing a unique marketing strategy for the company. In this regard, the qualitative method of data theory of the foundation has been used. The statistical population of the present study is marketing professors and marketing activists of packaged food products. The interview method has been used to collect the required information. The results of qualitative data analysis with MAXQDA software show that functional value, value, interactional value and emotional value as the proposed company value, value of use and exchange value as dimensions of perceived customer value, customer satisfaction and loyalty The customer has been identified as the dimensions of the marketing outcomes and ultimately the volume of sales, market share, net profit and return on investment as aspects of the financial implications of the proposed firm's value. In addition, the outputs indicate that the company's proposed value in the number of code count and in terms of generalization and learning in the majority of respondents is a priority, which indicates the importance of this category. Afterwards, the financial, marketing, and perceived value of customers are ranked next. This suggests that in our country, the strategic perspective (value from the perspective of the company) among the food industry managers and marketing professors is more general than the marketing perspective.
References:
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25. Ngo, L. and A. O’Cass (2009). ‘Creating value offerings via operant resource-based capabilities’, Industrial Marketing Management, 38, pp. 45–59.
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32. Prahalad, C. K. and V. Ramaswamy (2004). The Future of Competition: Co-creating Unique Value with Customers. Boston, MA: Harvard Business School Press.
33. Ravald, A. and C. Gro¨ nroos (1996). ‘The value concept and relationship marketing’, European Journal of Marketing, 30, pp. 19–30.
34. Ramirez, R. (1999). ‘Value co-production: intellectual origins and implications for practice and research’, Strategic Management Journal, 20, pp. 49–65.
35. Slater, S. F. (1997). ‘Developing a customer value-based theory of the firm’, Journal of the Academy of Marketing Science, 25, pp. 162–167.
36. Stollery, A. Jun,S, H., (2017) "The antecedents of perceived value in the Airbnb context", Asia Pacific Journal of Innovation and Entrepreneurship, Vol. 11 Issue: 3, pp.391-404, https://doi.org/10.1108/APJIE-12-2017-040
37. Tuominen, M. (2004). “Channel collaboration and firm value proposition”, International Journal of Retail & Distribution Management 32(4): 178–189. http://dx.doi.org/10.1108/09590550410528953.
38. Ulaga, W. and A. Eggert (2006). ‘Value-based differentiation in business relationships: gaining and sustaining key supplier status’, Journal of Marketing, 70, pp. 119–136.
39. Venanzi, Daniela, Financial Performance Measures and Value Creation: A Review (December 27, 2010). Available at SSRN: https://ssrn.com/abstract=1716209 or http://dx.doi.org/10.2139/ssrn.1716209
40. Vazquez, María Ángeles Revilla-Camacho, Francisco J. Cossío-Silva, (2013) "The value co-creation process as a determinant of customer satisfaction", Management Decision, Vol. 51 Issue: 10, pp.1945-1953, https://doi.org/10.1108/MD-04-2013-0227
41. Woodall, T (2003), “Conceptualization values for the customers: An attributional structural and dispositional analysis”, Academy of Marketing Science Review, 12.
42. Wu, Y, L. Li, E, Y., (2018) "Marketing mix, customer value, and customer loyalty in social commerce: A stimulus-organism-response perspective", Internet Research, Vol. 28 Issue: 1, pp.74-104, https://doi.org/10.1108/IntR-08-2016-0250.
43. Woodruff, R. B. (1997). ‘Customer value: the next source for competitive advantage’, Journal of the Academy of Marketing Science, 25, pp. 139–153.
44. Whang, U., (2017) "Comparative advantage, product quality, and the competitiveness of firms", Journal of Korea Trade, Vol. 21 Issue: 3, pp.174-190, https://doi.org/10.1108/JKT-06-2017-0061
45. Zeithaml, V. A. (1988). ‘Consumer perceptions of price, quality and value: a means–end model and synthesis of evidence’, Journal of Marketing, 52, pp. 2–22.
46. Zhang, T. Lu, C. Torres, E. Chen, P., (2018) "Engaging customers in value co-creation or co-destruction online", Journal of Services Marketing, Vol. 32 Issue: 1, pp.57-69, https://doi.org/10.1108/JSM-01-2017-0027.
47. Zhao, S. Priporas, C, V., (2017) "Information technology and marketing performance within international market-entry alliances: A review and an integrated conceptual framework", International Marketing Review, Vol. 34 Issue: 1, pp.5-28, https://doi.org/10.1108/IMR-01-2016-0024.
1. Anderson, J. C. and J. A. Narus (1998). ‘Business marketing: understand what customers value’, Harvard Business Review, 84, pp. 53–61.
2. Allen, J., Reicheld, F., Hamilton, B, Markey, R., (2005), “Closing the delivery gap”, Bain & Company.
3. Ballantyne, D., Frow, P, Varey, R., Payne, A, (2011), “Value proposition as communication practice: Taking a wider view”, Industrial Marketing Management, 40, 202-210.
4. Coviello, N., H. Winklhofer and K. Hamilton (2006). ‘Marketing practices and performance of small service firms: an examination in the tourism accommodation sector’, Journal of Service Research, 9, pp. 38–58.
5. De Oliveira, G,M. Silvia Morales de Queiroz Caleman, Christiano França da Cunha, Morenise Puperi, (2017) "Value appropriation in Brazilian cattle industry", British Food Journal, Vol. 119 Issue: 9, pp.2089-2101, https://doi.org/10.1108/BFJ-10-2016-0478.
6. DeSarbo, W.S., Jedidi, K. and Sinha, I. (2001), “Customer value analysis in a heterogeneous market”, Strategic Management Journal, Vol. 22 No. 9, pp. 845-857.
7. Day, G. and R. Wensley (1988). ‘Assessing advantage: a framework for diagnosing competitive superiority’, Journal of Marketing, 52, pp. 1–20.
8. Dyer, J. H. and H. Singh (1998). ‘The relational view: cooperative strategy and sources of interorganizational competitive advantage’, Academy of Management Review, 23, pp.660–679.
9. Ellegaard, C. Medlin, C, J. Geersbro, J., (2014) "Value appropriation in business exchange – literature review and future research opportunities", Journal of Business & Industrial Marketing, Vol. 29 Issue: 3, pp.185-198, https://doi.org/10.1108/JBIM-03-2012-0039.
10. França, A. Ferreira, J., (2016) "Resources and capabilities through the lens of value (co-) creation: a literature review", International Journal of Innovation Science, Vol. 8 Issue: 3, pp.230-253, https://doi.org/10.1108/IJIS-09-2016-023.
11. Falasca, M. Zhang, J. Conchar, M. Li, L., (2017) "The impact of customer knowledge and marketing dynamic capability on innovation performance: an empirical analysis", Journal of Business & Industrial Marketing, Vol. 32 Issue: 7, pp.901-912, https://doi.org/10.1108/JBIM-12-2016-0289.
12. Helander N., Sillanpää V., Vuori V., Uusitalo O. (2017) Customer Perceived Value—A Key in Marketing of Integrated Solutions. In: Kavoura A., Sakas D., Tomaras P. (eds) Strategic Innovative Marketing. Springer Proceedings in Business and Economics. Springer, Cham.
13. Hult, G. T. M. and D. J. Ketchen (2001). ‘Does market orientation matter?: a test of the relationship between positional advantage and performance’, Strategic Management Journal, 22, pp. 899–906.
14. Healy, B. O’Dwyer, M. Ledwith, A., (2018) "An exploration of product advantage and its antecedents in SMEs", Journal of Small Business and Enterprise Development, Vol. 25 Issue: 1, pp.129-146, https://doi.org/10.1108/JSBED-06-2017-0206.
15. Kumar, V. Reinartz, W., (2016), “Creating Enduring Customer Value,” Journal of Marketing, 80 (6), 36-68.doi: http://dx.doi.org/10.1509/jm.15.0414.
16. Kroll, M., P. Wright and R. A. Heiens (1999). ‘The contribution of product quality to competitive advantage: impacts on systematic variance and unexplained variance in returns’, Strategic Management Journal, 20, pp. 375–384.
17. Kotler, P. (1997) "Marketing Management: Analysis, Planning, and Control", 9th ed., Prentice-Hall, Upper Saddle River, NJ
18. Leckie, C. Nyadzayo, M,W. Johnson, L,W., (2018) "Promoting brand engagement behaviors and loyalty through perceived service value and innovativeness", Journal of Services Marketing, Vol. 32 Issue: 1, pp.70-82, https://doi.org/10.1108/JSM-01-2017-0035.
19. Iazzolino, Laise, Migliano, (2014) "Measuring value creation: VAIC and EVA", Measuring Business Excellence, Vol. 18 Issue: 1, pp.8-21, https://doi.org/10.1108/MBE-10-2013-0052
20. Mittal, B. and J. N. Sheth (2001). ValueSpace: Winning the Battle for Market Leadership. New York: McGraw-Hill.
21. Mizik, N. and Jacobson, R. (2003), “Trading off between value creation and value appropriation: the financial implications of shifts in strategic emphasis”, Journal of Marketing, Vol. 67 No. 1, pp. 63-76
22. Memili, E. Fang, H,C. Welsh, D,H., (2015) "Value creation and value appropriation in innovation process in publicly-traded family firms", Management Decision, Vol. 53 Issue: 9, pp.1921-1952, https://doi.org/10.1108/MD-06-2014-0391.
23. Mittal, B. and J. N. Sheth (2001). ValueSpace: Winning the Battle for Market Leadership. New York: McGraw-Hill.
24. Mahmoud Abdulai Mahmoud, Robert E. Hinson, Patrick Amfo Anim, (2018) "Service innovation and customer satisfaction: the role of customer value creation", European Journal of Innovation Management, Vol. 21 Issue: 3, pp.402-422, https://doi.org/10.1108/EJIM-09-2017-0117
25. Ngo, L. and A. O’Cass (2009). ‘Creating value offerings via operant resource-based capabilities’, Industrial Marketing Management, 38, pp. 45–59.
26. Naumann, E. (1995), Creating customer value, Thompson Executive Press, Cincinnati, OH.
27. Normann, R., (2011), Reframing business: When the map changes the landscape. Chicherster: John Wiley.
28. Payne, A. Frow, F., (2014) "Developing superior value propositions: a strategic marketing imperative", Journal of Service Management, Vol. 25 Issue: 2, pp.213-227, https://doi.org/10.1108/JOSM-01-2014-0036.
29. Payne, A.; Holt, S. (2001). “Diagnosing customer value: integrating the value process and relationship marketing”, British Journal of Management 12(2): 159–182. http://dx.doi.org/10.1111/1467-8551.00192.
30. Pal, R. Aneja, A,P., (2017) "Ambidexterity drivers of value-creation and appropriation in business models: An explorative study from DuPont", Research Journal of Textile and Apparel, Vol. 21 Issue: 1, pp.2-26, https://doi.org/10.1108/RJTA-09-2016-0021.
31. Piyathasanan, B. Christine Mathies, C. Patterson, P, G Ruyter, K., (2018) "Continued value creation in crowdsourcing from creative process engagement", Journal of Services Marketing, Vol. 32 Issue: 1, pp.19-33, https://doi.org/10.1108/JSM-02-2017-0044.
32. Prahalad, C. K. and V. Ramaswamy (2004). The Future of Competition: Co-creating Unique Value with Customers. Boston, MA: Harvard Business School Press.
33. Ravald, A. and C. Gro¨ nroos (1996). ‘The value concept and relationship marketing’, European Journal of Marketing, 30, pp. 19–30.
34. Ramirez, R. (1999). ‘Value co-production: intellectual origins and implications for practice and research’, Strategic Management Journal, 20, pp. 49–65.
35. Slater, S. F. (1997). ‘Developing a customer value-based theory of the firm’, Journal of the Academy of Marketing Science, 25, pp. 162–167.
36. Stollery, A. Jun,S, H., (2017) "The antecedents of perceived value in the Airbnb context", Asia Pacific Journal of Innovation and Entrepreneurship, Vol. 11 Issue: 3, pp.391-404, https://doi.org/10.1108/APJIE-12-2017-040
37. Tuominen, M. (2004). “Channel collaboration and firm value proposition”, International Journal of Retail & Distribution Management 32(4): 178–189. http://dx.doi.org/10.1108/09590550410528953.
38. Ulaga, W. and A. Eggert (2006). ‘Value-based differentiation in business relationships: gaining and sustaining key supplier status’, Journal of Marketing, 70, pp. 119–136.
39. Venanzi, Daniela, Financial Performance Measures and Value Creation: A Review (December 27, 2010). Available at SSRN: https://ssrn.com/abstract=1716209 or http://dx.doi.org/10.2139/ssrn.1716209
40. Vazquez, María Ángeles Revilla-Camacho, Francisco J. Cossío-Silva, (2013) "The value co-creation process as a determinant of customer satisfaction", Management Decision, Vol. 51 Issue: 10, pp.1945-1953, https://doi.org/10.1108/MD-04-2013-0227
41. Woodall, T (2003), “Conceptualization values for the customers: An attributional structural and dispositional analysis”, Academy of Marketing Science Review, 12.
42. Wu, Y, L. Li, E, Y., (2018) "Marketing mix, customer value, and customer loyalty in social commerce: A stimulus-organism-response perspective", Internet Research, Vol. 28 Issue: 1, pp.74-104, https://doi.org/10.1108/IntR-08-2016-0250.
43. Woodruff, R. B. (1997). ‘Customer value: the next source for competitive advantage’, Journal of the Academy of Marketing Science, 25, pp. 139–153.
44. Whang, U., (2017) "Comparative advantage, product quality, and the competitiveness of firms", Journal of Korea Trade, Vol. 21 Issue: 3, pp.174-190, https://doi.org/10.1108/JKT-06-2017-0061
45. Zeithaml, V. A. (1988). ‘Consumer perceptions of price, quality and value: a means–end model and synthesis of evidence’, Journal of Marketing, 52, pp. 2–22.
46. Zhang, T. Lu, C. Torres, E. Chen, P., (2018) "Engaging customers in value co-creation or co-destruction online", Journal of Services Marketing, Vol. 32 Issue: 1, pp.57-69, https://doi.org/10.1108/JSM-01-2017-0027.
47. Zhao, S. Priporas, C, V., (2017) "Information technology and marketing performance within international market-entry alliances: A review and an integrated conceptual framework", International Marketing Review, Vol. 34 Issue: 1, pp.5-28, https://doi.org/10.1108/IMR-01-2016-0024.