Examining the Firm's Value Creation Process: A Managerial Perspective of the Firm's Value Offering Strategy and Performance

British Journal of Management

Volumn 22, Issue 4, 2011, Pages 646-671

  O'Cass, Aron ^a   Ngo, Liem Viet ^b  

^a UNIVERSITY OF NEWCASTLE   (Australia)

^b UNIVERSITY OF NEW SOUTH WALES   (Australia)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 81155151830     PISSN: 10453172     EISSN: 14678551     Source Type: Journal    
DOI: 10.1111/j.1467-8551.2010.00694.x     Document Type: Article

References (102)

1. Afuah, A. (2002). 'Mapping technological capabilities into product markets and competitive advantage: the case of cholesterol drugs', Strategic Management Journal, 23, pp. 171-179.
2. Aksoy, L., T. L.Keiningham and D.Bejou (2008). 'Objectives of customer centric approaches in relationship marketing', Journal of Relationship Marketing, 6, pp. 1-19.
3. Ambrosini, V. and C.Bowman (2009). 'The impact of causal ambiguity on competitive advantage and rent appropriation', British Journal of Management, Doi: DOI: 10.1111/j.1467-8551.2009.00644.x.
4. Anderson, E. W. and M. W.Sullivan (1993). 'The antecedents and consequences of customer satisfaction for firms', Marketing Science, 12, pp. 125-143.
5. Anderson, E. W., C.Fornell and D. R.Lehmann (1994). 'Customer satisfaction, market share, and profitability: findings from Sweden', Journal of Marketing, 58, pp. 53-67.
6. Anderson, J. C. and J. A.Narus (1998). 'Business marketing: understand what customers value', Harvard Business Review, 84, pp. 53-61.
7. Anderson, J. C., J. A.Narus and W.van Rossum (2006). 'Customer value propositions in business markets', Harvard Business Review, 84, pp. 90-99.
8. Bendapudi, N. and R. P.Leone (2003). 'Psychological implications of customer participation in co-production', Journal of Marketing, 67, pp. 14-28.
9. Berry, L. L. (2001). 'Generous companies serve the best', Marketing Management, 10, pp. 12-14.
10. Blattberg, R. C., G.Getz and J. S.Thomas (2001). Customer Equity: Building and Managing Relationships as Valuable Assets. Boston, MA: Harvard Business School Press.
11. Bowman, C. and V.Ambrosini (1997). 'Perceptions of strategic priorities, consensus and firm performance', Journal of Management Studies, 34, pp. 241-259.
12. Bowman, C. and V.Ambrosini (2000). 'Value creation versus value capture: towards a coherent definition of value in strategy', British Journal of Management, 11, pp. 1-15.
13. Bowman, C. and V.Ambrosini (2007). 'Firm value creation and levels of strategy', Management Decision, 45, pp. 360-371.
14. Bowman, C. and V.Ambrosini (2009). 'What are dynamic capabilities and are they a useful construct in strategic management?', International Journal of Management Reviews, 11, pp. 29-49.
15. Bruhn, M., D.Georgi and K.Hadwich (2008). 'Customer equity management as formative second-order construct', Journal of Business Research, 61, pp. 12-92.
16. Chin, W. W. (1998). 'Commentary: issues and opinion on structural equation modeling', MIS Quarterly, 22, pp. vii-xvi.
17. Chin, W. W. and P. R.Newsted (1999). 'Structural equation modeling analysis with small samples using partial least squares'. In R.Hoyle (ed.), Statistical Strategies for Small Sample Research, pp. 307-341. Thousand Oaks, CA: Sage.
18. Chin, W. W., B. L.Marcolin and P. R.Newsted (2003). 'A partial least squares latent variable modeling approach for measuring interaction effects: results from a Monte Carlo simulation study and an electronic mail emotion/adoption study', Information Systems Research, 14, pp. 189-217.
19. Christopher, M. (1996). 'From brand values to customer values', Journal of Marketing Practice: Applied Marketing Science, 2, pp. 55-66.
20. Chwelos, P., I.Benbasat and A. S.Dexter (2001). 'Research report: Empirical test of an EDI adoption model', Information Systems Research, 12, pp. 304-321.
21. Cohen, J. (1988). Statistical Power Analysis for the Behavioural Sciences. New York: Lawrence Erlbaum.
22. Conner, K. R. (1991). 'A historical comparison of resource-based theory and five schools of thought within industrial organization economics: do we have a new theory of the firm?', Journal of Management, 17, pp. 121-154.
23. 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.
24. Damanpour, F. (2009). 'An integration of research findings of effects of firm size and market competition on product and process innovations', British Journal of Management, Doi: DOI: 10.1111/j.1467-8551.2009.00628.x.
25. Danaher, P. J. and R. T.Rust (1996). 'Indirect financial benefits from service quality', Quality Management Journal, 3, pp. 63-75.
26. Day, G. S. and C.van den Bulte (2002) 'Superiority in customer relationship management: consequences for competitive advantage and performance', Working Paper 02-123, Marketing Science Institute.
27. Day, G. and R.Wensley (1988). 'Assessing advantage: a framework for diagnosing competitive superiority', Journal of Marketing, 52, pp. 1-20.
28. DeSarbo, W. S., K.Jedidi and I.Sinha (2001). 'Customer value analysis in a heterogeneous market', Strategic Management Journal, 22, pp. 845-857.
29. Diamantopoulos, A. and J.Sigaw (2006). 'Formative versus reflective indicators in organizational measure development: a comparison and empirical illustration', British Journal of Management, 17, pp. 263-282.
30. Diamantopoulos, A. and H. M.Winklhofer (2001). 'Index construction with formative indicators: an alternative to scale development', Journal of Marketing Research, 38, pp. 269-278.
31. Dutta, S., M. J.Zbaracki and M.Bergen (2003). 'Pricing process as a capability: a resource-based perspective', Strategic Management Journal, 24, pp. 615-630.
32. Dye, R. A. (2004). 'Strategy selection and performance measurement choice when profit drivers are uncertain', Management Science, 50, pp. 1624-1638.
33. 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.
34. Fornell, C. and F. L.Bookstein (1982). 'A comparative analysis of two structural equation models: LISREL and PLS applied to market data'. In C.Fornell (ed.), A Second Generation of Multivariate Analysis, pp. 289-324. New York: Praeger.
35. Fornell, C. and D. F.Larcker (1981). 'Evaluating structural equation models with unobservable variables and measurement error', Journal of Marketing Research, 18, pp. 39-50.
36. Fornell, C., S.Mithas, F. V.Morgeson and M. S.Krishnan (2006). 'Customer satisfaction and stock prices: high returns, low risk', Journal of Marketing, 70, pp. 3-14.
37. Gourville, J. T. (2006). 'Eager sellers and stony buyers: understanding the psychology of new-product adoption', Harvard Business Review, 84, pp. 98-106.
38. Hanssens, D. M., D.Thorpe and C.Finkbeiner (2008). 'Marketing when customer equity matters', Harvard Business Review, 86, pp. 117-123.
39. Helm, S. (2005). 'Designing a formative measure for corporate reputation', Corporate Reputation Review, 8, pp. 95-109.
40. Hinkin, T. R. (1995). 'A review of scale development practices in the study of organization', Journal of Management, 21, pp. 967-988.
41. Hinterhuber, A. (2004). 'Towards value-based pricing - an integrative framework for decision making', Industrial Marketing Management, 33, pp. 765-778.
42. Hogan, J. E., D. R.Lehmann, M.Merino, R. K.Srivastava and P. C.Verhoef (2002). 'Linking customer assets to financial performance', Journal of Service Research, 5, pp. 26-38.
43. Homburg, C., N.Koschate and W. D.Hoyer (2005). 'Do satisfied customers really pay more? A study of the relationship between customer satisfaction and willingness to pay', Journal of Marketing, 69, pp. 84-96.
44. Hulland, J. (1999). 'Use of partial least squares (PLS) in strategic management research: a review of four recent studies', Strategic Management Journal, 20, pp. 195-204.
45. 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.
46. Ittner, C. and D.Larcker (2003). 'Coming up short on nonfinancial performance measurement', Harvard Business Review, 81, pp. 88-95.
47. Jarvis, C. B., S. B.MacKenzie and P. M.Podsakoff (2003). 'A critical review of construct indicators and measurement model misspecification in marketing and consumer research', Journal of Consumer Research, 30, pp. 199-218.
48. Kaplan, R. S. and D. P.Norton (2006). 'How to implement a new strategy without disrupting your organization', Harvard Business Review, 84, pp. 100-109.
49. 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.
50. Kumar, N., L.Scheer and P.Kotler (2000). 'From market driven to market driving', European Management Journal, 18, pp. 129-142.
51. Lepak, P. D., K. G.Smith and S. M.Taylor (2007). 'Introduction to special topic forum: Value creation and value capture: a multilevel perspective', Academy of Management Review, 32, pp. 180-194.
52. Lindell, M. K. and D. J.Whitney (2001). 'Accounting for common method variance in cross-sectional research designs', Journal of Applied Psychology, 86, pp. 114-121.
53. Lohmöller, J.-B. (1989). Latent Variable Path Modeling with Partial Least Squares. New York: Springer.
54. Malhotra, N. K., S. S.Kim and A.Patil (2006). 'Common method variance in IS research: a comparison of alternative approaches and a reanalysis of past research', Management Science, 52, pp. 1865-1883.
55. Mazumdar, T., S. P.Raj and I.Sinha (2005). 'Reference price research: review and propositions', Journal of Marketing, 69, pp. 84-102.
56. Mittal, B. and J. N.Sheth (2001). ValueSpace: Winning the Battle for Market Leadership. New York: McGraw-Hill.
57. Mizik, N. and R.Jacobson (2003). 'Trading off between value creation and value appropriation: the financial implications of shifts in strategic emphasis', Journal of Marketing, 67, pp. 63-76.
58. Möller, K. (2006). 'Role of competences in creating customer value: a value-creation logic approach', Industrial Marketing Management, 35, pp. 913-924.
59. Nagar, V. and M. V.Rajan (2005). 'Measuring customer relationships: the case of the retail banking industry', Management Science, 51, pp. 904-919.
60. Needham, A. (2008). 'Word of mouth, youth and their brands', Young Consumers, 9, pp. 60-62.
61. Ngo, L. and A.O'Cass (2009). 'Creating value offerings via operant resource-based capabilities', Industrial Marketing Management, 38, pp. 45-59.
62. Normann, R. and R.Ramirez (1993). 'From value chain to value constellation: designing interactive strategy', Harvard Business Review, 71, pp. 65-77.
63. Nunnally, J. C. (1978). Psychometric Theory. New York: McGraw-Hill.
64. O'Cass, A. and L. V.Ngo (2007). 'Market orientation versus innovative culture: two routes to superior brand performance', European Journal of Marketing, 41, pp. 868-887.
65. Papadakis, V. M. and P.Barwise (2002). 'How much do CEOs and top managers matter in strategic decision-making?', British Journal of Management, 13, pp. 83-95.
66. Payne, A. F. and P.Frow (1997). 'Relationship marketing: key issues for the utilities sector', Journal of Marketing Management, 13, pp. 463-477.
67. Payne, A. F. and P.Frow (2005). 'A strategic framework for customer relationship management', Journal of Marketing, 69, pp. 167-176.
68. Payne, A. F. and S.Holt (2001). 'Diagnosing customer value: integrating the value process and relationship marketing', British Journal of Management, 12, pp. 159-182.
69. Payne, A. F., K.Storbacka and P.Frow (2008). 'Managing the co-creation of value', Journal of the Academy of Marketing Science, 36, pp. 83-96.
70. Pitt, L. F., M. T.Ewing and P.Berthon (2000). 'Turning competitive advantage into customer equity', Business Horizons, 43, pp. 11-18.
71. Podsakoff, P. M., S. B.MacKenzie, J.-Y.Lee and N. P.Podsakoff (2003). 'Common method bias in behavioral research: a critical review of the literature and recommended remedies', Journal of Applied Psychology, 88, pp. 879-903.
72. Prahalad, C. K. (2004). 'The co-creation of value - invited commentary', Journal of Marketing, 68, p. 23.
73. Prahalad, C. K. and V.Ramaswamy (2004). The Future of Competition: Co-creating Unique Value with Customers. Boston, MA: Harvard Business School Press.
74. Priem, R. L. (2007). 'A consumer perspective on value creation', Academy of Management Review, 32, pp. 219-235.
75. Ramani, G. and V.Kumar (2008). 'Interaction orientation and firm performance', Journal of Marketing, 72, pp. 27-45.
76. Ramaswamy, V. (2008). 'Co-creating value through customers' experiences: the Nike case', Strategy and Leadership, 36, pp. 9-14.
77. Ramirez, R. (1999). 'Value co-production: intellectual origins and implications for practice and research', Strategic Management Journal, 20, pp. 49-65.
78. Ravald, A. and C.Grönroos (1996). 'The value concept and relationship marketing', European Journal of Marketing, 30, pp. 19-30.
79. Reimann, M., O.Schilke and J. S.Thomas (in press). 'Customer relationship management and firm performance: the mediating role of business strategy', Journal of the Academy of Marketing Science.
80. Reinartz, W., M.Krafft and W. D.Hoyer (2004). 'The customer relationship management process: its measurement and impact on performance', Journal of Marketing Research, 41, pp. 293-305.
81. Rust, R. T. and T. S.Chung (2006). 'Marketing models of service and relationships', Marketing Science, 25, pp. 560-580.
82. Rust, R. T., V. A.Zeithaml and K. N.Lemon (2000). Driving Customer Equity: How Customer Lifetime Value is Reshaping Corporate Strategy. New York: Free Press.
83. Schepers, J., W.Martin and K.de Ruyter (2005). 'Leadership styles in technology acceptance: do followers practice what leaders preach?', Managing Service Quality, 15, pp. 496-508.
84. Sheth, J. N. and A.Parvatiyar (1995). 'The evolution of relationship marketing', International Business Review, 4, pp. 397-418.
85. Sirmon, D., M.Hitt and D.Ireland (2007). 'Managing firm resources in dynamic environments to create value: looking inside the black box', Academy of Management Review, 32, pp. 273-292.
86. Slater, S. F. (1997). 'Developing a customer value-based theory of the firm', Journal of the Academy of Marketing Science, 25, pp. 162-167.
87. Smith, J. B. and M.Colgate (2007). 'Customer value creation: a practical framework', Journal of Marketing Theory and Practice, 15, pp. 7-23.
88. Steiger, J. (1980). 'Tests for comparing elements of a correlation matrix', Psychological Bulletin, 87, pp. 245-251.
89. Stone, M. (1974). 'Cross-validatory choice and assessment of statistical predictions', Journal of the Royal Statistical Society, 36, pp. 111-133.
90. Storbacka, K. and J. R.Lehtinen (2001). Customer Relationship Management: Creating Competitive Advantage through Win-Win Relationship Strategies. Singapore: McGraw-Hill.
91. Teece, D. (2007). 'Explicating dynamic capabilities: the nature and micro-foundations of (sustainable) enterprise performance', Strategic Management Journal, 28, pp. 1319-1350.
92. Tenenhaus, M., V. E.Vinzi, Y.Chatelin and C.Lauro (2005). 'PLS path modelling', Computational Statistics and Data Analysis, 48, pp. 159-205.
93. Thomke, S. and E.von Hippel (2002). 'Customers as innovators: a new way to create value', Harvard Business Review, 80, pp. 74-81.
94. 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.
95. Vargo, S. L. and R. F.Lusch (2004). 'Evolving to a new dominant logic for marketing', Journal of Marketing, 68, pp. 1-17.
96. Verwaal, E., H.Commandeur and W.Verbeke (2009). 'Value creation and value claiming in strategic outsourcing decisions: a resource contingency perspective', Journal of Management, 35, pp. 420-444.
97. Walsh, G., V.-W.Mitchell, P. R.Jackson and S. E.Beatty (2009). 'Examining the antecedents and consequences of corporate reputation: a customer perspective', British Journal of Management, 20, pp. 187-203.
98. Wetzels, M., G.Odekerken-Schröder and C.van Oppen (2009). 'Using PLS path modeling for assessing hierarchical construct models: guidelines and empirical illustration', MIS Quarterly, 33, pp. 177-195.
99. Wold, H. (1982). 'Soft modelling - the basic design and some extensions'. In K.Jöreskog and H.Wold (eds), Systems under Indirect Observation II, pp. 1-53. Amsterdam: North-Holland.
100. Woodruff, R. B. (1997). 'Customer value: the next source for competitive advantage', Journal of the Academy of Marketing Science, 25, pp. 139-153.
101. 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.
102. Zeithaml, V. A. (2000). 'Service quality, profitability, and the economic worth of customers: what we know and what we need to learn', Journal of the Academy of Marketing Science, 28, pp. 67-85.