Essays on supplier responsiveness and buyer firm value - Nyenrode ...

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only provide an assessment of the satisfaction from the most recent transaction and not from the whole relationship (Oliver, 1993). Furthermore, within the channel management literature, satisfaction as a construct is classified in two subtypes. The first form is economic satisfaction, which is the overall positive affective response to the economic benefits that flow from the buyer towards the seller from the relationship with its channel partner (Geyskens, Steenkamp, & Kumar, 1999). The second type is non-economic satisfaction, which is defined as the overall affective response to the non-economic aspects of a channel relationship (Geyskens et al., 1999). Although some scholars treat both economic and non-economic satisfaction as distinct constructs, the relationship of both constructs with firm performance is positive (Geyskens et al., 1999). Therefore, this study uses the term buyer satisfaction to imply the buyer’s cumulative economic and non-economic satisfaction with its strategic supplier firm (Dwyer & Gassenheimer, 1992). Our fourth construct is supplier brand value. According to Keller (1993), customer-based brand knowledge is comprised of two components: brand image and brand awareness. Brand image encompasses the collective neural associations about the memory of a brand. From the perspective of a strategic buying center team, we define this as the shared collective memories about the supplier’s brand, which provides it with leverage because of customer preference that it would otherwise not have without the brand. Our fifth construct is buyer firm value. Prior studies have assessed firm value by discounting expected cash flows to evaluate the impact of marketing strategy on the firm’s value. This perspective has been widely adopted in the finance, and marketing literatures (Srinivasan & Hanssens, 2009). The more stable and greater the firm’s current cash flows, the greater the expectation of the firm’s value. Furthermore, firm growth drives cash flows and, hence, value (Srivastava, Shervani, & Fahey, 1999). Therefore, we take growth and stability in cash flows (i.e., both current and expected perceptions) as a measure of the buyer’s firm value (Koller, Goedhart, & Wessels, 2005). This concludes the brief description of the constructs that are used in this chapter. In summary, prior research has suggested the relevance of investigating the consequences of market orientation or supplier responsiveness by using three of the previously discussed constructs, namely buyer satisfaction, supplier brand value, and buyer firm value. A new addition to the literature is the construct of IdRR, which we have propounded by synthesizing previous research. In the current research, we integrate the new proposed construct of IdRR and the other four constructs into our conceptual model. In the next section, we discuss prior studies of market orientation and examine the major themes that they have covered so far. Afterwards, we build upon these previous studies through our conceptual model. The contexts in which market orientation has been studied are wide and varied. Some frameworks include different market types, such as B2B and business to consumer (B2C) (Kirca, Jayachandran, & Bearden, 2005; Siguaw, Simpson, & Baker, 1998). 2 Different methodological approaches have also been used, including qualitative methodologies such as theory in use, and grounded theory, and quantitative survey data (Gebhardt, Carpenter, & Sherry, 2006; Narver & Slater, 1990; Siguaw et al., 1998). 2 For a detailed examination of the various kinds of market orientation–performance studies, please refer to the meta analysis by Kirca et al. (2005). 24
2.2 Market Orientation In this section, we will describe purposefully selected prior studies on market orientation. The criteria on which we based our choice of articles are whether the studies represented the important theoretical streams of the market orientation literature. We introduce two important conceptualizations of market orientation: the process-based perspective and the culture-based perspective. We then discuss whether a market-oriented culture is a resource and the linkage between the cultural perspective of market orientation and risk. Next, we discuss the link between the cultural perspective of market orientation and innovation, and eventually we discuss what we have learned from the prior literature synthesis on the cultural perspective of market orientation. We then commence our discussion about the process-based view of market orientation. Afterwards, we discuss market orientation in B2B contexts and different moderators of the market orientation and performance link. Furthermore, we discuss the link between market orientation and marketing accountability and finance. Finally, we discuss the contribution that our current study makes to the literature. As previously described in this chapter, there is a broad bifurcation in the market orientation literature along two lines, one that conceptualizes market orientation as a process and another that conceptualizes it as a culture (Langerak, Hultink, & Robben, 2004a). Both streams have linked it to firm performance (see Table 2.1). Table 2.1 Representative Studies of Market Orientation and Their Focus Emphasis of Paper Study Number Responsiveness as the Most Important Component of Market Orientation 4,3,13 Market orientation as a culture 2,3,4,5,6,7,8,9,10,11,12 Market orientation as a process 1,13 B2B market orientation 5 Market orientation from a systems approach 3 NPD as an antecedent to market orientation 12 NPD as a mediator of the market orientation performance relationship. Market orientation-performance moderators: 1) Technology 4 2) Market turbulence 4 3) Competition 4 Narver and Slater (1990) 1 Gebhardt, Carpenter, and Sherry Jr. (2006) 2 Homburg, Grozdanovic, and Klarmann (2007) 3 Kohli and Jaworski (1990) 4 Siguaw, Simpson, and Baker (1998) 5 Grewal and Tansuhaj (2001) 6 Slater and Narver (1995) 7 Voss and Voss (2000) 8 Atuahene-Gima (1996) 9 Marinova (2004) 10 Zhou, Yim, and Tse (2005) 11 Verhoef and Leeflang (2009) 12 Jaworski and Kohli (1993) 13 25
Page 2 and 3: ISBN 978-90-8980-055-8 © M. Abrahi
Page 4 and 5: Examination Committee Supervisor: P
Page 6 and 7: 2.3 DEVELOPMENT OF THE CONCEPTUAL M
Page 8 and 9: 5.1 RESEARCH FINDINGS 114 5.2 OVERA
Page 10 and 11: List of Tables Table 2.1 Representa
Page 12 and 13: PREFACE Oscar Wilde once said, “I
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Page 16 and 17: Figure 1.1 Mckinsey Survey Results
Page 18 and 19: 1.4 Scope PhD thesis This thesis fo
Page 20 and 21: Netherlands. We used the maximum li
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3.1 Introduction The Netherlands, d
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possibility that firm size may infl
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Figure 3.1 The Netherlands and Unit
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comprehensive agreement on each oth
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Why do we pay more for an orange wi
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constructs, for cross-cultural fact
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will discuss the SEM analysis of th
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BFV Hypothesis 4 IdRR->SBV Hypothes
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products. Overall, the effects of s
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more diverse comparison. China is a
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Chapter 4 The Quest for Performance
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insurance premiums. Hence, perceptu
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theoretical contribution regarding
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should reinforce objective measures
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Table 4.2 Standardized Regression W
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Table 4.5 SEM Results Construct Dir
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4.7 Discussion We start this discus
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Jaowrski and Kohli (1993) provided
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Using the findings of our current s
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iii) iv) Indeed, there may not be m
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uyer firm performance through a ser
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specifically highlighted the import
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5.5 Practical Implications From a m
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Summary in English This dissertatio
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is that, when developing marketing
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isk by 0.98 standard deviations. Su
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collectivist culture and a Confucia
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Overwegende dat Verhoef en Leeflang
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van de waarde te communiceren dat d
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erkennen dat dit niet altijd een mo
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ij de vraag of cultureel risico voo
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Businessweek. (2012). S&P/BusinessW
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-industry-09012011.html Grewal, R.,
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Langerak, F. (2001). Effects of mar
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Quelch, J. (2007). How to brand an
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Verhoef, P. C., & Leeflang, P. S. H
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1. The name of the company where yo
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9.The supplier seems to have good i
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17. The supplier takes a very long
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25. If the supplier were to find ou
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33.Does your strategic supplier als
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41.To what degree do those specific
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Supplier Brand Value 51.How likely
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Appendix B Scatter Plot Diagrams fo
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