Value creation in markets - A critical area of focus for business-to-business markets

The business market has been undergoing a paradigmatic change. The rise of the Internet, market fragmentation, and increasing global competition is changing the "value" that business marketers provide. This paradigmatic transformation requires changes in the way companies are organized to create and deliver value to their customers. Business marketers have to continuously increase their contribution to the value chain. If not, value migrates from a given business paradigm (e.g., minicomputers and DEC) to alternate business paradigms (e.g., flexibly manufactured PCs and Dell). This article focuses on ways in which business marketers are creating value in the Internet and digital age. Examples from business marketers are discussed and managerial implications are highlighted. (C) 2001 Elsevier Science Inc. All rights reserved.