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Value quantification capabilities in industrial markets

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  • Hinterhuber, Andreas

Abstract

This study explores the origins and benefits of value quantification capabilities in industrial markets. After polling 131 US industrial sales and account managers, this study finds that value quantification capabilities improve firm—but not individual sales manager—performance. Second, in stable markets, the effect of value quantification capabilities on firm performance is stronger than in dynamic markets. Third, the study finds that the following psychological traits are positively related to the individual value quantification capability: risk taking and creativity, sales manager questioning style, customer-oriented selling, and cross-functional collaboration. This study suggests that value quantification capabilities benefit firm performance especially in stable markets, it explores attitudinal and behavioural traits underlying value quantification capabilities, and it highlights the need for further studies exploring the circumstances under which value quantification capabilities improve individual sales manager performance.

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  • Hinterhuber, Andreas, 2017. "Value quantification capabilities in industrial markets," Journal of Business Research, Elsevier, vol. 76(C), pages 163-178.
    • Handle: RePEc:eee:jbrese:v:76:y:2017:i:c:p:163-178
    DOI: 10.1016/j.jbusres.2016.11.019
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    Cited by:

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    2. Hinterhuber, Andreas & Kienzler, Mario & Liozu, Stephan, 2021. "New product pricing in business markets: The role of psychological traits," Journal of Business Research, Elsevier, vol. 133(C), pages 231-241.
    3. Raja, Jawwad Z. & Frandsen, Thomas & Kowalkowski, Christian & Jarmatz, Martin, 2020. "Learning to discover value: Value-based pricing and selling capabilities for services and solutions," Journal of Business Research, Elsevier, vol. 114(C), pages 142-159.
    4. Liozu, Stephan M., 2019. "Make pricing power a strategic priority for your business," Business Horizons, Elsevier, vol. 62(1), pages 117-128.
    5. Stephan M. Liozu & Sven Feurer & Andreas Hinterhuber & Arch Woodside, 2021. "Configurational theory and practices of firms employing multiple pricing policies: assessing effective and ineffective pricing recipes in multiple firm contexts," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(4), pages 420-435, August.
    6. Alin Stancu & Alina Filip & Mihai Ioan Roșca & Daniela Ioniță & Raluca Căplescu & Andrei Cânda & Laura Daniela Roșca, 2020. "Value Creation Attributes—Clustering Strategic Options for Romanian SMEs," Sustainability, MDPI, vol. 12(17), pages 1-18, August.
    7. Andreas Hinterhuber & Todd C. Snelgrove & Bo-Inge Stensson, 2021. "Value first, then price: the new paradigm of B2B buying and selling," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(4), pages 403-409, August.
    8. Andreas Hinterhuber & Stephan M. Liozu, 2018. "Thoughts: premium pricing in B2C and B2B," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 17(4), pages 301-305, August.
    9. Itani, Omar S. & Goad, Emily A. & Jaramillo, Fernando, 2019. "Building customer relationships while achieving sales performance results: Is listening the holy grail of sales?," Journal of Business Research, Elsevier, vol. 102(C), pages 120-130.
    10. John V. Colias & Stella Park & Elizabeth Horn, 2021. "Optimizing B2B product offers with machine learning, mixed logit, and nonlinear programming," Journal of Marketing Analytics, Palgrave Macmillan, vol. 9(3), pages 157-172, September.

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