Advancing value-based selling research in B2B markets : A theoretical toolbox and research agenda

Value-based selling (VBS) has become an increasingly important selling practice in contemporary business-to-business (B2B) markets, but currently most VBS studies are limited to exploratory and descriptive case studies. Therefore, the purpose of this paper is to develop a theoretical toolbox that provides a foundation for more theory-driven research on VBS and thereby advances both the theoretical and managerial understanding of VBS. Specifically, we consider equity theory, framing theory, mental accounting, social exchange theory, signaling theory, agency theory, game theory, and institutional theory in terms of their implications for VBS. We provide a brief overview of each theory and its applications, highlight the key implications and potential research questions for VBS, and summarize our insights into a research agenda. This paper contributes to the contemporary VBS literature by developing a theory-driven research agenda. It also provides managerial insights on how different theories can inform decision-making for the implementation and management of VBS in B2B markets.