Purpose The purpose of this paper is to establish a connection between the business model (BM) and B2B marketing research by developing a new approach to the BM analysis and improvement, which is based on inter-organizational networks and value chains. Design/methodology/approach The methodology is based on mutual enrichment of methods and results of BM and business-to-business marketing studies that are relatively isolated from each other, and on integration of them to the unified structured approach that could be applied to analyze both BM and a set of interfirm relationships of networked market players. This paper is based on extensive literature review in the areas of BM and relationship/industrial marketing. The review is based on most cited and contemporary articles found in the Scopus and EBSCO databases. Findings This paper formulates the key BM research directions and visualizes their development over time. It is demonstrated in the paper that currently, there is little involvement of marketing researchers in the study of BM; however, there are multiple touchpoints between these areas of knowledge, which can help in further developing BM studies. On the basis of these findings, a conceptual model and new network-based approach to BM analysis is offered, which allows addressing the complex nature of networked interaction among BM participants. The approach includes stepwise algorithm for BM analysis designed for business practitioners. Research limitations/implications The proposed approach can be applied by business practitioners to analyze and improve their BM via managing the interactions of inter-organizational network participants with a focus on customer interests. While the approach is of a universal character, the specific tools for evaluating BM on each stage may vary across different markets. Originality/value This research contributes to the current conceptual knowledge on BM studies development and their relationship with marketing. It also contributes to theory and practice by the development of a new marketing-based approach to the BM analysis focused on managing business relationships, which allows evaluation of the current state of a BM and provides directions for its improvement. This approach evaluates the alignment of interfirm relationships along the value chain and orients it toward the final consumer.

Creating and developing innovative business models (BM) is currently one of the key success factors for contemporary business. Rapid complex changes in the world reemphasize the need to better understand how BM can be successfully innovated in different markets. The digital component of BM innovation comes under a special spotlight, using the example of a company within the pharmaceutical industry. In particular, this study demonstrates how BM innovation can be developed and implemented in practice within the pharmaceutical market, which accelerates its digital transformation to increase the value it brings to the healthcare systems around the world while sustaining the ongoing crisis. In order to do that, the current paper offers a framework for BM innovation that defines BM elements, BM innovation aspects, and BM innovation logic. The study covers six markets that represent different value creation systems and mechanisms. This paper demonstrates how technological innovations can be activated using managerial tools and insights and also how they can be combined into the holistic system based on the needs of the key value chain actors.

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