Value-creation initiatives in buyer-seller relationships

Purpose - The purpose of this paper is to identify and explore important value-creation initiatives in buyer-seller relationships (BSRs). Design/methodology/approach - Following a literature review and the presentation of an appropriate conceptual framework, an exploratory study of 14 BSRs in a variety of European industries is undertaken using in-depth semi- structured interviews with key informants. Findings - The findings justify a distinction being drawn between two types of value-creation initiatives: those that are important in transaction-based arrangements (in which efficiency is paramount); and those that are important in interaction-based relationships (in which effectiveness is paramount). Of the ten value-creation initiatives identified in the literature review, seven were found to be of importance in the BSRs of the present sample. Research limitations/implications - Despite genuine attempts to select a heterogeneous sample, most of the data did come from sellers. Future studies could look more deeply into buyer data to explore these issues in BSRs. Practical implications - The paper provides managers with practical guidance on the selection of appropriate value-creation initiatives in various types of BSRs. Originality/value - The paper reports the first known empirical study of value-creation initiatives in BSRs.