Creating value in retail buyer–vendor relationships: A service-centered model

We present a “service-centered” model of retail buyer–vendor relationships, in which retail buyers' perceptions of a vendor's economic and social resources affect their assessments of relationship value and relationship outcomes. Economic resources offered at the organizational level of th...

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Bibliographic Details
Published in:Industrial marketing management 2015-01, Vol.44, p.166-179
Main Authors: Wagner, Janet, Benoit (née Moeller), Sabine
Format: Article
Language:English
Subjects:
Brand equity
Buying behavior
Customer services
Customers
Economic resources
Interpersonal relations
Marketing
Modelling
Perceptions
Public relations
Relationship marketing
Retailing
Service dominant logic
Socioeconomic factors
Studies
Value
Vendor supplier relations
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Summary:We present a “service-centered” model of retail buyer–vendor relationships, in which retail buyers' perceptions of a vendor's economic and social resources affect their assessments of relationship value and relationship outcomes. Economic resources offered at the organizational level of the vendor include brand equity and customer support activities (e.g., merchandising support and margin maintenance). Social resources offered at the individual level of the salesperson include special treatment and customer advocacy. Relationship outcomes include the buyer's intention to grow the business, and in the event of business termination, maintain the interpersonal relationship with the sales representative. Survey data from 532 retail buyers were collected and analyzed using structural equation modeling. The results show that relationship value mediates the effects of economic and social resources on relationship outcomes. However, the process by which this occurs varies. •We explore how retail buyers perceive the service offerings of their vendors.•Relationship value and business growth intention are driven by economic resources, particularly brand equity.•Social resources, incl. special treatment and customer advocacy, affect relationship value, but not maintenance intention.•Economic resources lead directly to economic outcomes, social resources to relationship value but not to social outcomes.•Relationship value mediates the effects of economic and social resources on outcomes.
ISSN:0019-8501
1873-2062
DOI:10.1016/j.indmarman.2014.10.013