High‐tech, innovative products: identifying and meeting business customers' value needs

Abstract

Purpose During the industrial purchasing process of high‐tech, innovative products, various decision‐influencers within buying companies evaluate the attractiveness of the manufacturer's market offering; namely the “value” of the offering. This paper aims to identify the various tangible and intangible value elements requested by the business customer, and the stage(s) of the purchasing process in which these value considerations take place. Design/methodology/approach This paper develops a framework that will effectively guide manufacturers of high‐tech, innovative products to market, and customize, their offer throughout the different stages of prospective business customers' purchasing process. Findings The findings, derived from in‐depth interviews, demonstrate that manufacturers should focus on distinctive product‐, service‐, and supplier‐related value elements, and that the particular elements depend on the different decision‐influencers, as well as the different stages of the purchasing process. Originality/value The paper discusses some avenues for future research in the marketing of high‐tech products.

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