this study examines how customer value heterogeneity affects a
firm's emphasis on customers vs. competitors; how customer and
competitor orientations influence innovation and market competitive
advantage; andfinally, how the two forms of competitive advantage
impact the firm's market and financial performance. This research
attempts to contribute to the literature in three ways. First, this
research investigates how customer value drives market orientation,
an important issue that has received little theoretical and empirical
assessment. Second, this study provides some insight into the
evolving debate on the merits of market orientation by modeling
competitive advantage as mediating the本文来自^辣@文~论^文%网*原文请找腾讯#3249-114 link between market
orientation and performance. Third, extant market orientation and
competitive advantage literatures have mainly focused on the
financial aspects offirm performance (e.g., Hult et al., 2005; Zhou
et al., 2005b). This study extends this line of enquiry by considering
both market andfinancial dimensions of performance.
2. Conceptual development
2.1. A demand-based perspective
Nearlyfifty years ago, marketers began to recognize the importance
of tailoring their market offerings to the shifting tastes, preferences,
and desires of consumers (Keith, 1960). The basic tenet of such a
demand-based perspective (i.e., the marketing concept) is that
demand dynamics such as customer value heterogeneity will
necessarily affect new technology development, customer choices,
firm strategies, and therefore influence afirm's competitive advantage
(Adner, 2002; Adner and Zemsky, 2006). For example,Adner (2002)
proposes an analytical model examining how customer preference
overlap and preference symmetry lead to the emergence of disruptive
innovations.Adner and Zemsky (2006)model how customer hetero
geneity and decreased marginal utility from performance improve
ment, two important elements of demand drivers, affectfirm's
sustainable competitive advantage. From this view, understanding
what customers value within a given offering, creating value for them,
and then managing the value are essential for businesses to devise
their core strategies and achieve success.
This perspective is critical for value creation because without
knowing what customers actually value,firms can not define and
deliver a value proposition to satisfy them (Desarbo et al., 2001).
Therefore, this view adds to the competitive forces perspective by
shifting the focus from interfirm competition and entry barriers to
customer demand. This perspective also complements the RBV by
clarifying what arevaluableresources (i.e., those that are desired by
customers) and suggesting that strategic heterogeneity originates
not only fromfirms' internal resource differences, but also from
customer value heterogeneity in the external environments (Adner
and Zemsky, 2006: 234).
The demand-based view is still in its infancy stage and needs
more empirical examination.Adner and Zemsky (2006: 234)
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