Value in Business Markets: What do We Know? Where are We Going?

Adam Lindgreen, Finn Wynstra

Research output: Contribution to journalJournal articleResearchpeer-review


This article presents a review of the existing literature on value in business markets, from the perspective of both business marketing and purchasing and supply management, in three steps. First, some of the early research strands on value are examined including value analysis and engineering, the augmented product concept, consumer values, and economic value of customers. Then this seminal research and more recent research are categorized according to two distinct levels of analysis: the value of goods and services versus the value of buyer–supplier relationships, and different understandings of the role of business marketing and purchasing and supply are discussed. Lastly, a number of future research avenues, which can be organized around the value of products/relationships on the one hand and value analysis/creation/delivery on the other, are considered.
Original languageEnglish
JournalIndustrial Marketing Management
Issue number7
Pages (from-to)732–748
Number of pages17
Publication statusPublished - Oct 2005
Externally publishedYes

Bibliographical note

This article is published in a special edition of Industrial Marketing Management: "Citation Classics from Industrial Marketing Management", June 2018. It was originally published in vol. 34(7), 2005.

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