A Review of the ‘Value’ Literature and Implications for Relationship Marketing

Abstract

The creation and delivery of value to customers is of increasing interest to researchers and practitioners. This paper identifies and reviews nine core streams of literature that have been influential on current research in the field of customer value. It argues that while much of the literature has focused on value creation for the customer, the relationship-marketing paradigm demands a broader view that includes other stakeholders. Two new perspectives that fit this broader view, customer value and shareholder value and relationship value are investigated and the implications of integrating a value orientation with a relationship marketing approach are discussed.