Successful implementation of value-based selling: a value co-creation and dynamic capabilities perspective

Purpose This study aims to investigate the new connotations, key antecedents, outcomes and contingency factors of value-based selling (VBS) in the context of business to business (B2B) industrial marketing. Design/methodology/approach This study develops a comprehensive conceptual framework of VBS by analyzing and synthesizing the existing literature on VBS and associated solutions. Findings The paper describes the research streams of VBS; proposes a comprehensive conceptual framework consisting of the factors influencing VBS at the organizational, individual, customer and environmental levels, together with 12 research propositions; and provides an agenda for future research. Research limitations/implications The paper is conceptual; empirical studies are required for examining the suggested propositions and agenda. Practical implications VBS is a process-oriented sales approach that involves multiple value creation and plays a crucial role in industrial solution selling. The successful implementation of VBS depends on the micro-foundations of an organization's dynamic capabilities and considers the influence of individual, customer and environmental factors. Originality/value To the best of the authors' knowledge, this study is the first to introduce value co-creation and dynamic capability theory into VBS research in the context of industrial marketing. It discusses the antecedents, outcomes and contingency factors of VBS in detail in the form of a comprehensive research framework and proposes a future research agenda. These discussions expand the theoretical research on VBS and provide useful implications for B2B marketing practice.