Is co-created value the only legitimate value? An institutional-theory perspective on business interaction in B2B-marketing systems

Marta Massi, Michel Rod, Daniela Corsaro

    Research output: Contribution to journalJournal Articlepeer-review

    18 Citations (Scopus)

    Abstract

    Purpose: This paper aims to deal with the concepts of “institutions” and “institutional logics” in the context of business-to-business (B2B) marketing systems and uses institutional theory as a framework to look at value co-creation. Design/methodology/approach: By integrating the literature on value co-creation, institutional theory and institutional entrepreneurship, the paper argues that the boundaries of B2B marketing systems are continuously reshaped through legitimation processes occurring through actors’ institutional work, thus making co-created value the only legitimate value. Findings: The paper proposes a conceptual framework and furthers the conceptual development of value co-creation and augments the literature on service-dominant logic and the notion of co-created value by assuming a legitimacy-based B2B market systems perspective. Practical implications: This paper presents a number of propositions that serve to illustrate several managerial implications. These arise from organizations co-creating value by conforming to the various institutional logics that maximize their legitimacy. Originality/value: The paper makes a contribution by developing a critical theoretical framework based on the application of institutional theoretical constructs/concepts (e.g. ceremonial conformity, decoupling, considerations of face, confidence and good faith).

    Original languageEnglish
    Pages (from-to)337-354
    Number of pages18
    JournalJournal of Business and Industrial Marketing
    Volume36
    Issue number2
    DOIs
    Publication statusPublished - 8 Feb. 2021

    Keywords

    • B2B marketing systems
    • Institutional entrepreneurship
    • Institutional theory
    • Institutionalization
    • Legitimacy
    • Value co-creation

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