A longitudinal study of customers' desired value change in business-to-business markets

Customer value is a dynamic interactive phenomenon. Based on a longitudinal, phenomenological study of buyers and sellers in the New Zealand wine industry, we shed light on the phenomena of customers' desired value change (CDVC), driving contextual conditions, and firms' strategic response. A four-stage model of market-CDVC evolution is proposed. Findings identified external and internal drivers of CDVC, such as increasing niche density, changing customer demands, changing competitor actions, and increased competitive rivalry. We were able to track changes in each driver, and identify the related changes in CDVC, including changes in CDVC form and intensity, and the scope of CDVC related actions. (C) 2003 Elsevier Inc. All rights reserved.