Marketing theory and practice have focused persistently on exchange between buyers and sellers. Unfortunately, most of the research and too many of the marketing strategies treat buyer-seller exchanges as discrete events, not as ongoing relationships. The authors describe a framework for developing buyer-seller relationships that affords a vantage point for formulating marketing strategy and for stimulating new research directions.
Evidence from past research and insights from an exploratory investigation are combined in a conceptual model that defines and relates price, perceived quality, and perceived va...
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