The primary pursuit of any business is to understand what customers value and to create that value for them. While customers are the final arbiter of value, it is the firm's role to explore, interpret and deliver value based on what they believe customers are seeking. Based on this premise we adopt the firm's perspective on value creation to extend both Bowman and Ambrosini's theoretical framework and the work of DeSarbo, Jedidi and Sinha and focus on two issues. The first is the strategic emphasis firms place on the design and delivery of their value offering. The second is the extent the firm's value offering explains performance differentials at the customer-centric performance level. We present a conceptual model of how firms gain positional advantage via their value offering and the realized outcomes they achieve. We present two approaches to modelling the firm's value offering (type II and type IV models) and articulate the theoretical underpinnings and results for these models. Our results validate the conceptualization of the firm's value offering and suggest that creating superior value offerings enables firms to achieve superiority in customer-centric performance.

Item Type:	Refereed Article
Research Division:	Commerce, Management, Tourism and Services
Research Group:	Marketing
Research Field:	Marketing not elsewhere classified
Objective Division:	Economic Framework
Objective Group:	Management and productivity
Objective Field:	Marketing
UTAS Author:	Lee, WJ (Dr Thomas Lee)
UTAS Author:	O'Cass, A (Professor Aron O'Cass)
ID Code:	116783
Year Published:	2016
Web of Science® Times Cited:	14
Deposited By:	TSBE
Deposited On:	2017-05-19
Last Modified:	2018-03-08
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