Skip to main content

The customer value proposition: evolution, development, and application in marketing

Abstract

The customer value proposition (CVP) has a critical role in communicating how a company aims to provide value to customers. Managers and scholars increasingly use CVP terminology, yet the concept remains poorly understood and implemented; relatively little research on this topic has been published, considering the vast breadth of investigations of the value concept. In response, this article offers a comprehensive review of fragmented CVP literature, highlighting the lack of a strong theoretical foundation; distinguishes CVPs from related concepts; proposes a conceptual model of the CVP that includes antecedents, consequences, and moderators, together with several research propositions; illustrates the application of the CVP concept to four contrasting companies; and advances a compelling agenda for research.

This is a preview of subscription content, access via your institution.

Fig. 1

References

  1. Anderson, J. C., & Narus, J. A. (1998). Business marketing: Understand what customers value. Harvard Business Review, 76(6), 53–65.

    Google Scholar 

  2. Anderson, L., & Ostrom, A. L. (2015). Transformative service research advancing our knowledge about service and well-being. Journal of Service Research, 18(3), 243–249.

    Article  Google Scholar 

  3. Anderson, E., & Weitz, B. (1992). The use of pledges to build and sustain commitment in distribution channels. Journal of Marketing Research, 29(1), 18–34.

    Article  Google Scholar 

  4. Anderson, J., Narus, J., & Van Rossum, W. (2006). Customer value propositions in business markets. Harvard Business Review, 84(3), 91–99.

    Google Scholar 

  5. Anderson, J. C., Kumar, N., & Narus, J. A. (2007). Value merchants: Demonstrating and documenting superior value in business markets. Boston: Harvard Business Press.

    Google Scholar 

  6. Arnott, D. C. (1992). Bases of financial services positioning in the personal pension, life assurance and personal equity plan sectors, PhD thesis, University of Manchester, UK.

  7. Ballantyne, D. (2003). A relationship-mediated theory of internal marketing. European Journal of Marketing, 37(9), 1242–1260.

    Article  Google Scholar 

  8. Ballantyne, D., & Varey, R. J. (2006a). Introducing a dialogical orientation to the service-dominant logic of marketing. In R. F. Lusch & S. L. Vargo (Eds.), The service dominant logic of marketing (pp. 224–235). Armonk: M. E. Sharpe.

    Google Scholar 

  9. Ballantyne, D., & Varey, R. J. (2006b). Creating value-in-use through marketing interaction. Marketing Theory, 6(3), 335–348.

    Article  Google Scholar 

  10. Ballantyne, D., Frow, P., Varey, R. J., & Payne, A. (2011). Value propositions as communication practice. Industrial Marketing Management, 40(2), 202–210.

    Article  Google Scholar 

  11. Barnes, C., Blake, H., & Pinder, D. (2009). Creating and delivering your value proposition: Managing customer experience for profit. London: Kogan Page Publishers.

    Google Scholar 

  12. Barney, J. B., & Arikan, A. M. (2001). The resource-based view: Origins and implications. In M. A. Hitt, R. E. Freeman, & J. S. Harrison (Eds.), Handbook of strategic management (pp. 24–288). Oxford: Blackwell.

    Google Scholar 

  13. Baron, D. P. (2016). Strategy beyond markets: A step back and a look forward. In J. M. De Figueiredo, M. Lenox, F. Oberholzer-Gee, & R. G. Vanden Bergh (Eds.), Strategy beyond markets, Advances in strategic management (Vol. 34, pp. 1–54). Bingley: Emerald Publishing.

    Chapter  Google Scholar 

  14. Behrman, D. N., & Perreault, W. D. (1982). Measuring the performance of industrial salespersons. Journal of Business Research, 10(3), 355–370.

    Article  Google Scholar 

  15. Berry, L. L., Carbone, L. P., & Haeckel, S. H. (2002). Managing the total customer experience. Sloan Management Review, 43(3), 85–89.

    Google Scholar 

  16. Bititci, U. S., Martinez, V., Albores, P., & Parung, J. (2004). Creating and managing value in collaborative networks. International Journal of Physical Distribution & Logistics Management, 34(3/4), 251–268.

    Article  Google Scholar 

  17. Bower, M., & Garda, R. A. (1986). The role of marketing in management. In V. P. Buell (Ed.), Handbook of Modern Marketing (pp. 1–3–1-15). New York: McGraw-Hill.

  18. Brodie, R. J., Hollebeek, L. D., Juric, B., & Ilic, A. (2011). Customer engagement: Conceptual domain, fundamental propositions, and implications for research. Journal of Service Research, 14(3), 252–271.

    Article  Google Scholar 

  19. Brown, S. P., & Lam, S. K. (2008). A meta-analysis of relationships linking employee satisfaction to customer responses. Journal of Retailing, 84(3), 243–255.

    Article  Google Scholar 

  20. Carney, P. (2015). Discussions and correspondence. September: Partner PwC.

    Google Scholar 

  21. Carpenter, G. S., Glazer, R., & Nakamoto, K. (1994). Meaningful brands from meaningless differentiation: The dependence on irrelevant attributes. Journal of Marketing Research, 31(3), 339–350.

    Article  Google Scholar 

  22. Chaffrey, D. (2010). Google case study. Retrieved February 26, 2016 from http://www.smartinsights.com/digital-marketing-strategy/online-business-revenue-models/google-case-study/.

  23. Chandler, J. D., & Lusch, R. F. (2015). Service system: A broadened framework and research agenda on value propositions, engagement, and service experience. Journal of Service Research, 18(1), 6–22.

    Article  Google Scholar 

  24. Chandrashekaran, M., Rotte, K., Tax, S. S., & Grewal, R. (2007). Satisfaction strength and customer loyalty. Journal of Marketing Research, 44(1), 153–163.

    Article  Google Scholar 

  25. Chaudhuri, A., & Holbrook, M. B. (2001). The chain of effects from brand trust and brand affect to brand performance: The role of brand loyalty. Journal of Marketing, 65(2), 81–93.

    Article  Google Scholar 

  26. Chesbrough, H. (2003). The logic of open innovation: Managing intellectual property. California Management Review, 45(3), 33–58.

    Article  Google Scholar 

  27. Chesbrough, H., & Rosenbloom, R. S. (2002). The role of the business model in capturing value from innovation: Evidence from Xerox Corporation's technology spin-off companies. Industrial and Corporate Change, 11(3), 529–555.

    Article  Google Scholar 

  28. Corvellec, H., & Hultman, J. (2014). Managing the politics of value propositions. Marketing Theory, 14(4), 355–375.

    Article  Google Scholar 

  29. Covin, J. G., Garrett, R. P., Kuratko, D. F., & Shepherd, D. A. (2015). Value proposition evolution and the performance of internal corporate ventures. Journal of Business Venturing, 30(5), 749–774.

    Article  Google Scholar 

  30. Daniel, A. (2013). Rio Tinto Coal. Retrieved March 10, 2016 from https://agusdaniel.wordpress.com/2013/07/30/rio-tinto-coal-australia-swot-analysis/.

  31. Darby, M. R., & Karni, E. (1973). Free competition and the optimal amount of fraud. Journal of Law & Economics, 16(1), 67–88.

    Article  Google Scholar 

  32. Day, G. S. (1994). The capabilities of market-driven organizations. Journal of Marketing, 58(4), 37–52.

    Article  Google Scholar 

  33. Day, G. S. (2011). Closing the marketing capabilities gap. Journal of Marketing, 75(4), 183–195.

    Article  Google Scholar 

  34. Eggert, A., & Ulaga, W. (2002). Customer perceived value: A substitute for satisfaction in business markets? Journal of Business & Industrial Marketing, 17(2/3), 107–118.

    Article  Google Scholar 

  35. Ehret, M., Kashyap, V., & Wirtz, J. (2013). Business models: Impact on business markets and opportunities for marketing research. Industrial Marketing Management, 42(5), 649–655.

    Article  Google Scholar 

  36. Eisenmann, T., Parker, G., & Van Alstyne, M. W. (2006). Strategies for two-sided markets. Harvard Business Review, 84(10), 92–101.

    Google Scholar 

  37. Emerson, J. (2003). The blended value proposition: Integrating social and financial returns. California Management Review, 45(4), 35–51.

    Article  Google Scholar 

  38. Flint, D. J., & Mentzer, J. (2006). Striving for integrated value chain management. In R. F. Lusch & S. L. Vargo (Eds.), The service dominant logic of marketing (pp. 139–149). Armonk: M. E. Sharpe.

    Google Scholar 

  39. Frow, P., & Payne, A. (2011). A stakeholder perspective of the value proposition concept. European Journal of Marketing, 45(1/2), 223–240.

    Article  Google Scholar 

  40. Frow, P., McColl-Kennedy, J., Hilton, T., Davidson, A., Payne, A., & Brozovic, D. (2014). Value propositions: A service ecosystems perspective. Marketing Theory, 14(3), 327–351.

    Article  Google Scholar 

  41. Google. (2016). Google Corporate Information. Retrieved March 15, 2016 from https://www.google.com/about/company/.

  42. Grönroos, C., & Ravald, A. (2011). Service as business logic: Implications for value creation and marketing. Journal of Service Management, 22(1), 5–22.

    Article  Google Scholar 

  43. Grönroos, C., & Voima, P. (2013). Critical service logic: Making sense of value creation and co-creation. Journal of the Academy of Marketing Science, 41(2), 133–150.

    Article  Google Scholar 

  44. Gummesson, E. (2006). Many to many marketing as grand theory. In R. F. Lusch & S. L. Vargo (Eds.), The service dominant logic of marketing (pp. 339–353). Armonk: M. E. Sharpe.

    Google Scholar 

  45. Gundlach, G. T., Achrol, R. S., & Mentzer, J. T. (1995). The structure of commitment in exchange. Journal of Marketing, 59(1), 78–92.

    Article  Google Scholar 

  46. Hopkins, C. (1923). Scientific advertising. New York: Crown Publishers Inc..

    Google Scholar 

  47. Houston, F. S. (1986). The marketing concept: What it is and what it is not. Journal of Marketing, 50(2), 81–87.

    Article  Google Scholar 

  48. Hurley, R. F., & Hult, G. T. M. (1998). Innovation, market orientation, and organizational learning: An integration and empirical examination. Journal of Marketing, 62(3), 42–54.

    Article  Google Scholar 

  49. Jaworski, B. J., & Kohli, A. K. (1993). Market orientation: Antecedents and consequences. Journal of Marketing, 57(3), 53–70.

    Article  Google Scholar 

  50. Juggernaut. (2015). How Uber works. Retrieved February 18, 2016 from http://nextjuggernaut.com/blog/how-uber-works-business-model-revenue-uber-insights/.

  51. Kalanick, T. (2013a). Uber's value proposition as told by CEO and co-founder Travis Kalanick. Retrieved April 6, 2016 from https://twitter.com/tech21hbs/status/396679120832458752.

  52. Kalanick, T. (2013b). Uber Policy White Paper 1.0, Principled innovation: Addressing the regulatory ambiguity around ridesharing apps, April 12.

  53. Kalanick, T. (2015). 5-Year anniversary remarks as delivered by Uber CEO Travis Kalanick, (June 3). Retrieved April 10, 2016 from https://newsroom.uber.com/5-years-travis-kalanick/.

  54. Kambil, A., Ginsberg, A., & Bloch, M. (1996). Re-inventing value propositions. In Information systems working paper series stern #IS-96-21. New York: University.

    Google Scholar 

  55. Kaplan, R., & Norton, D. (2001). Transforming the balanced scorecard from performance measurement to strategic management. Accounting Horizons, 15(1), 87–104.

    Article  Google Scholar 

  56. Kirca, A. H., Jayachandran, S., & Bearden, W. O. (2005). Market orientation: A meta-analytic review and assessment of its antecedents and impact on performance. Journal of Marketing, 69(2), 24–41.

    Article  Google Scholar 

  57. Kowalkowski, C. (2011). Dynamics of value propositions: Insights from service-dominant logic. European Journal of Marketing, 45(1/2), 277–294.

    Article  Google Scholar 

  58. Kowalkowski, C., Ridell, O. P., Röndell, J. G., & Sörhammar, D. (2012). The co-creative practice of forming a value proposition. Journal of Marketing Management, 28(13/14), 1553–1570.

    Article  Google Scholar 

  59. Kozlenkova, I., Samaha, S., & Palmatier, R. (2014). Resource-based theory in marketing. Journal of the Academy of Marketing Science, 42(1), 1–21.

    Article  Google Scholar 

  60. Lafley, A. G., & Martin, R. L. (2013). Playing to win: How strategy really works. Boston: Harvard Business Press.

    Google Scholar 

  61. Lanning, M. (1998). Delivering profitable value. New York: Perseus Publishing.

    Google Scholar 

  62. Lanning, M. (2003). An introduction to the market-focused philosophy, framework and methodology called delivering profitable value. Retrieved February 24, 2012 from http://www.exubrio.com/white-papers/DPVIntro-eXubrio.pdf.

  63. Lanning, M., & Michaels, E. (1988). A business is a value delivery system. McKinsey Staff Paper No. 41, July.

  64. Lanning, M., & Phillips, L. (1992). Building market-focused organizations. Gemini Consulting.

    Google Scholar 

  65. Lehmann, D. R., & Winer, R. S. (2008). Analysis for marketing planning. Boston: McGraw-Hill.

    Google Scholar 

  66. Lindic, J., & Marques da Silva, C. (2011). Value proposition as a catalyst for a customer focused innovation. Management Decision, 49(10), 1694–1708.

    Article  Google Scholar 

  67. Lindstrom, M. (2005). Brand sense: Build powerful brands through touch, taste, smell, sight, and sound. New York: Free Press.

    Google Scholar 

  68. Lusch, R. F., & Vargo, S. L (2006). Service-dominant logic: As a foundation for a general theory. In R. F. Lusch, & S. L. Vargo (Eds.), The service dominant logic of marketing (pp. 406–420). Armonk: M. E. Sharpe.

  69. Lusch, R. F., Vargo, S. L., & O’Brien, M. (2007). Competing through service: Insights from service-dominant logic. Journal of Retailing, 83(1), 5–18.

    Article  Google Scholar 

  70. Macdonald, E. K., Kleinaltenkamp, M., & Wilson, H. N. (2016). How business customers judge solutions: Solution quality and value in use. Journal of Marketing, 80(3), 96–120.

    Article  Google Scholar 

  71. MacInnis, D. J. (2011). A framework for conceptual contributions in marketing. Journal of Marketing, 75(4), 136–154.

    Article  Google Scholar 

  72. MacKenzie, S. B., Podsakoff, P. M., & Rich, G. A. (2001). Transformational and transactional leadership and salesperson performance. Journal of the Academy of Marketing Science, 29(2), 115–134.

    Article  Google Scholar 

  73. Makadok, R. (2001). Towards a synthesis of the resource-based and dynamic-capability views of rent creation. Strategic Management Journal, 22(5), 387–401.

    Article  Google Scholar 

  74. Marketing Science Institute. (2010). MSI research priorities 2010–12. Boston: MSI.

    Google Scholar 

  75. Marketing Science Institute. (2014). MSI research priorities 2014–16. Boston: MSI.

    Google Scholar 

  76. Martinez, V., & Bititci, U. S. (2006). Aligning value propositions in supply chains. International Journal of Value Chain Management, 1(1), 6–18.

    Article  Google Scholar 

  77. Michaels, E. (2008). Interview with authors, 11 September.

    Google Scholar 

  78. Mish, J., & Scammon, D. L. (2010). Principle-based stakeholder marketing. Journal of Public Policy & Marketing, 29(1), 12–26.

    Article  Google Scholar 

  79. Molineux, P. (2002). Exploiting CRM: Connecting with customers. London: Hodder & Stoughton.

    Google Scholar 

  80. Moorman, C., & Slotegraaf, R. J. (1999). The contingency value of complementary capabilities in product development. Journal of Marketing Research, 239–257.

  81. Morgan, N. A. (2012). Marketing and business performance. Journal of the Academy of Marketing Science, 40(1), 102–119.

    Article  Google Scholar 

  82. Morgan, I., & Rao, J. (2003). Making routine customer experiences fun. Sloan Management Review, 45(1), 93–95.

    Google Scholar 

  83. Müller, M. (2012). Design-driven innovation for sustainability: A new method for developing a sustainable value proposition. International Journal of Innovation Science, 4(1), 11–24.

    Article  Google Scholar 

  84. Nelson, P. (1970). Information and consumer behavior. Journal of Political Economy, 78(2), 311–329.

    Article  Google Scholar 

  85. Ogilvy, D. (1947). Correspondence to Rosser reeves from David Ogilvy. In 1 August 1947. Rosser Reeves Papers: Wisconsin Historical Society.

    Google Scholar 

  86. Osterwalder, A., Pigneur, Y., & Tucci, C. L. (2005). Clarifying business models. Communications of the Association for Information Systems, 16(1), 1–38.

    Google Scholar 

  87. Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014). Value proposition design: How to create products and services customers want. Hoboken: John Wiley & Sons.

    Google Scholar 

  88. Park, C. W., Jaworski, B. J., & MacInnis, D. J. (1986). Strategic rand concept-image management. Journal of Marketing, 50(4), 135–145.

    Article  Google Scholar 

  89. Park, C. W., MacInnis, D. J., Priester, J., Eisingerich, A. B., & Iacobucci, D. (2010). Brand attachment and brand attitude strength: Conceptual and empirical differentiation of two critical brand equity drivers. Journal of Marketing, 74(6), 1–17.

    Article  Google Scholar 

  90. Patala, S., Jalkala, A., Keränen, J., Väisänen, S., Tuominen, V., & Soukka, R. (2016). Sustainable value propositions: Framework and implications for technology suppliers. Industrial Marketing Management, 59, 144–156.

    Article  Google Scholar 

  91. Payne, A., & Frow, P. (2005). A strategic framework for customer relationship management. Journal of Marketing, 69(4), 167–176.

    Article  Google Scholar 

  92. Payne, A., & Frow, P. (2014). Deconstructing the value proposition of an innovation exemplar. European Journal of Marketing, 48(1/2), 237–270.

    Article  Google Scholar 

  93. Payne, A., Storbacka, K., & Frow, P. (2008). Managing the co-creation of value. Journal of the Academy of Marketing Science, 36(1), 83–96.

    Article  Google Scholar 

  94. Pellegrino, J. (2015). Interview with director, Sales Strategy & Operations. Google, May 20.

  95. Peteraf, M. A. (1993). The cornerstones of competitive advantage: A resource-based view. Strategic Management Journal, 14(3), 179–191.

    Article  Google Scholar 

  96. Podsakoff, P. M., MacKenzie, S. B., Moorman, R. H., & Fetter, R. (1990). Transformational leader behaviors and their effects on followers' trust in leader, satisfaction, and organizational citizenship behaviors. The Leadership Quarterly, 1(2), 107–142.

    Article  Google Scholar 

  97. Pringle, H., & Field, P. (2008). Brand immortality: How brands can live long and prosper. London: Kogan Page.

    Google Scholar 

  98. PwC. (2015). Value proposition for the private company services. PwC unpublished document.

  99. PwC. (2016a). Private Clients. Retrieved February 16, 2016 from http://www.pwc.com.au/private-clients.html.

  100. PwC. (2016b). Mission Statement. Retrieved April 10, 2016 from http://www.pwc.com/af/en/about-us/mission-statement.html.

  101. Rayport, J. F., & Jaworski, B. J. (2004). Introduction to e-commerce. Boston: McGraw-Hill.

    Google Scholar 

  102. Reeves, R. (1961). Reality in advertising. New York: Knopf.

    Google Scholar 

  103. Ries, A., & Trout, J. (1986). Positioning: The battle for your mind. New York: McGraw-Hill.

    Google Scholar 

  104. Rintamaki, T., Kuusela, H., & Mitronen, L. (2007). Identifying competitive customer value propositions in retailing. Managing Service Quality, 17(6), 621–634.

    Article  Google Scholar 

  105. Rio Tinto (2014). Rio Tinto. Retrieved January 15, 2016 from http://www.riotinto.com/documents/Media Speeches/RTDM_consolidated _presentations_final.pdf.

  106. Rio Tinto. (2016). Our business. Retrieved March 15, 2016 from http://www.riotinto.com/our-business-75.aspx.

  107. Sandström, S., Edvardsson, B., Kristensson, P., & Magnusson, P. (2008). Value in use through service experience. Managing Service Quality, 18(2), 112–126.

    Article  Google Scholar 

  108. Saura, I. G., Contri, G. B., Taulet, A. C., & Velazque, B. M. (2005). Relationships among customer orientation, service orientation and job satisfaction in financial services. International Journal of Service Industry Management, 16(5), 497–525.

    Article  Google Scholar 

  109. Schmitz, C., Lee, Y. C., & Lilien, G. L. (2014). Cross-selling performance in complex selling contexts: An examination of supervisory-and compensation-based controls. Journal of Marketing, 78(3), 1–19.

    Article  Google Scholar 

  110. Shah, D., Rust, R. T., Parasuraman, A., Staelin, R., & Day, G. S. (2006). The path to customer centricity. Journal of Service Research, 9(2), 113–124.

    Article  Google Scholar 

  111. Sinha, I., & DeSarbo, W. S. (1998). An integrated approach toward the spatial modeling of perceived customer value. Journal of Marketing Research, 35(2), 236–249.

    Article  Google Scholar 

  112. Skålén, P., Gummerus, J., von Koskull, C., & Magnusson, P. R. (2015). Exploring value propositions and service innovation: A service-dominant logic study. Journal of the Academy of Marketing Science, 43(2), 137–158.

    Article  Google Scholar 

  113. Smith, S., & Wheeler, J. (2002). Managing the customer experience: Turning customers into advocates. London: Financial Times Prentice Hall.

    Google Scholar 

  114. Spickett-Jones, G. J., Kitchen, P. J., & Reast, J. D. (2004). Social facts and ethical hardware: Ethics in the value proposition. Journal of Communication Management, 8(1), 68–82.

    Article  Google Scholar 

  115. Srivastava, R. K., Shervani, T. A., & Fahey, L. (1999). Marketing, business processes, and shareholder value: An organizationally embedded view of marketing activities and the discipline of marketing. Journal of Marketing, 63(4), 168–179.

    Article  Google Scholar 

  116. Starch, D. (1914). Advertising: Its principles, practice, and technique. New York: Scott, Foresman.

    Google Scholar 

  117. Storbacka, K., & Nenonen, S. (2011). Scripting markets: From value propositions to market propositions. Industrial Marketing Management, 40(2), 255–266.

    Article  Google Scholar 

  118. Teece, D. J. (2010). Business models, business strategy and innovation. Long Range Planning., 43(2), 172–194.

    Article  Google Scholar 

  119. Terho, H., Haas, A., Eggert, A., & Ulaga, W. (2012). ‘It's almost like taking the sales out of selling’—Towards a conceptualization of value-based selling in business markets. Industrial Marketing Management, 41(1), 174–185.

    Article  Google Scholar 

  120. Treacy, M., & Wiersema, F. (1993). Customer intimacy and other value disciplines. Harvard Business Review, 71(1), 84–93.

    Google Scholar 

  121. Treacy, M., & Wiersema, F. (1995). The discipline of market leaders. Reading: Addison-Wesley.

    Google Scholar 

  122. Truong, Y., Simmons, G., & Palmer, M. (2012). Reciprocal value propositions in practice: Constraints in digital markets. Industrial Marketing Management, 41(1), 197–206.

    Article  Google Scholar 

  123. Tuck, M. (1976). How do we choose: A study in consumer behaviour. London: Methuen.

    Google Scholar 

  124. Ulaga, W. (2014). Japan electric power company (a) & (B), IMD Case 7–1575 & 1576.

  125. Ulaga, W., & Eggert, A. (2006a). Relationship value and relationship quality: Broadening the nomological network of business-to-business relationships. European Journal of Marketing, 40(3/4), 311–327.

    Article  Google Scholar 

  126. Ulaga, W., & Eggert, A. (2006b). Value-based differentiation in business relationships: Gaining and sustaining key supplier status. Journal of Marketing, 70(1), 119–136.

    Article  Google Scholar 

  127. Ulaga, W., & Reinartz, W. J. (2011). Hybrid offerings: How manufacturing firms combine goods and services successfully. Journal of Marketing, 75(6), 5–23.

    Article  Google Scholar 

  128. Urban, G. L., & Hauser, J. R. (1980). Design and marketing of new products. Englewood Cliffs: Prentice-Hall.

    Google Scholar 

  129. Vargo, S. L., & Lusch, R. F. (2004). Evolving to a new dominant logic for marketing. Journal of Marketing, 68(1), 1–17.

    Article  Google Scholar 

  130. Vargo, S. L., & Lusch, R. F. (2008). Service-dominant logic: Continuing the evolution. Journal of the Academy of Marketing Science, 36(1), 1–10.

    Article  Google Scholar 

  131. Veyret, M. (2015). Interviews with business development leader. PwC Global, September 18.

  132. Webster, F. E. (1994). Market-driven management: How to define, develop and deliver customer value. Hoboken: John Wiley & Sons.

    Google Scholar 

  133. Webster, F. E. (2002). Market-driven management: How to define, develop and deliver customer value (2nd ed.). Hoboken: John Wiley & Sons.

    Google Scholar 

  134. Wolstenholme, R. (2015). Interview with industry head. Automotive, Google, May 11.

Download references

Author information

Affiliations

Authors

Corresponding author

Correspondence to Pennie Frow.

Additional information

Mark Houston served as Area Editor for this article.

Appendices

Appendix 1

Fig. 2
figure2

Academic publications that mention value propositions in their abstracts. Source: EBSCO business source complete database

Appendix 2

Table 5 Distinguishing the customer value proposition from related concepts

Appendix 3

Table 6 Illustrative definitions and descriptions of the customer value proposition

Rights and permissions

Reprints and Permissions

About this article

Verify currency and authenticity via CrossMark

Cite this article

Payne, A., Frow, P. & Eggert, A. The customer value proposition: evolution, development, and application in marketing. J. of the Acad. Mark. Sci. 45, 467–489 (2017). https://doi.org/10.1007/s11747-017-0523-z

Download citation

Keywords

  • Value proposition
  • Value
  • Marketing strategy