The evolution of B2B strategies in the rise of value co-creation and service management

Abstract

PurposeOver the last five decades, business to business (B2B) marketing has evolved from a transactional model to a behavioral model. This evolution is a consequence of the rise in thoughts of managing customer journeys, services marketing and acknowledging value co-creation amongst stakeholders. The contemporary B2B marketing strategies of relationship, innovation, sustainability and digital marketing that emerge through the literature review are discussed to demonstrate how they add value to the competitive advantage of firms and facilitate co-creation between business partners to help design the customer journey. The purpose of the paper is to discuss how the apparel industry could implement the B2B marketing strategies highlighted and further suggests a framework of value co-creation. The framework shows the journey between business partners followed by the value propositions as service exchange through resource integration within the service ecosystem.Design/methodology/approachThrough a review of the literature, the evolution of B2B marketing unveils the importance of services marketing and how the marketing strategies discussed add value to the services marketing, this is further explored with propositions of value co-creation between business partners. The propositions are based on the theory of service dominant logic, whereby, the partners in the service ecosystem co-create value from value propositions offered by the business partners in collaboration with supply chain innovation.FindingsA framework is suggested in the context of the apparel industry that demonstrates the value propositions as a part of the B2B marketing strategy. Through resource integration and collaboration between the business partners, the value propositions in the form of services, are exchanged resulting in value co-creation that leads to the ultimate offering to the end customer.Research limitations/implicationsThe service dominant logic theory and the supply chain innovation model are the basis of the framework, showing the value propositions made, are in collaboration between the firm and the supply chain partners. The value propositions in the form of services are exchanged as an outcome of resource integration amongst the business partners resulting in value co-creation which will aid apparel manufacturers differentiate their services and manage customer journeys better. The framework will be further researched through primary research to determine its rationality in the real-world context. The nature of the industry being fast paced, the literature will be outdated in a short span of time and with the vast growth, new strategies will need to be executed eventually.Practical implicationsThe paper discusses how the apparel industry can move forward with the B2B marketing strategies highlighted through the literature review and further suggests a framework of value co-creation. This will aid apparel manufacturers to focus their marketing efforts in an era of services marketing and compete better globally with service offerings.Social implicationsThe competitive advantage strategies and other key emerging themes of co-creation, value co-creation and customer journeys are highlighted and shows increasing importance to the survival of businesses in an era of service orientation and relationship marketing.Originality/valueThrough a critical literature review of B2B marketing strategies and with the use of theoretical models of service dominant logic and supply chain innovation, the conceptual paper proposes a framework by the authors that allows future research to analyse value co-creation in B2B marketing strategies for the apparel industry.

Building a Hierarchical Enablers Framework for Service Business Model Innovation for Sustainable Performance: Evidence from Ghana’s Electricity Sector

“…Service-dominant logic emphasizes the importance of utilizing its concepts to design services to understand economic exchange and value creation, making it an appropriate framework for understanding business model innovation in services [28]. This involves comprehending the journey between business partners and value propositions as service exchanges through the integration of resources within the service ecosystem [29]. By incorporating the principles of service-dominant logic into business model innovation, organizations can develop models that focus on customer understanding and collaborative creation of value at every stage [30], which is consistent with the pursuit of economic and social sustainability performance.…”

“…In support of this, Ref. [29] explains that SDL prompts a re-examination of the interactions between business partners, viewing value propositions as exchanges within the service ecosystem through the integration of resources.…”

Relationship synergy

“…It is no longer just about give and take but fostering a meaningful relationship that is beyond just the numbers involved. Chowdhury et al (2023) sought to identify how the apparel industry has evolved in terms of B2B relationships and the positive implications in relation to marketing strategies.…”