NORDIC PERSPECTIVES IN MARKETING

Nordic Perspectives in Marketing

Nordic Perspectives in Marketing

Introduction

This paper presents an analysis of an article titled, “Interaction, relationships and networks in business markets: an evolving perspective”, written by Turnbill and Cunningham. According to the authors, The range of business networks conceptualized in this way includes supply chains, entrepreneurial networks, and subsidiary-headquarter relationships in multinational corporations, as well as more complex formations of research and development networks, industrial clusters, and strategic alliance networks.

The interpretation of BN by sociologists and social anthropologists is much more focused on the interaction side of the links and, as such, sociological theories make a significant contribution to our understanding of the dynamics of BN. Part of the same body of knowledge is the discussion of trust and social capital. Recent research concludes that competitive advantage at firm level arises from the balance between control and trust, and the balance between commitment, learning, and knowledge protection in the context of interfirm relationships.

Purpose

The purpose of this paper is to deepen understanding of the concept of value as well as illuminate the role of values in relationship marketing. Any value-added strategy should reflect the goals of relationship marketing, such as ".Establish, maintain and improve relationships with customers for profit, to the parties' objectives are met"(Gringos, 1994) into account. The concept of value and value added appears to be one of the most current trends and more popular. However, the concept of value is multifaceted and complex and there is a clear danger that the concept was used without any efforts and commitments to really understand what it means to provide value to customers, how the value is should be added relating to the needs of customers and achieving profitability for the parties involved. Adding value can be done in many ways and we want to emphasize that an ...