Linking business model research and marketing: new network-based approach to business model analysis

Abstract

PurposeThe purpose of this paper is to establish a connection between the business model (BM) and B2B marketing research by developing a new approach to the BM analysis and improvement, which is based on inter-organizational networks and value chains.Design/methodology/approachThe methodology is based on mutual enrichment of methods and results of BM and business-to-business marketing studies that are relatively isolated from each other, and on integration of them to the unified structured approach that could be applied to analyze both BM and a set of interfirm relationships of networked market players. This paper is based on extensive literature review in the areas of BM and relationship/industrial marketing. The review is based on most cited and contemporary articles found in the Scopus and EBSCO databases.FindingsThis paper formulates the key BM research directions and visualizes their development over time. It is demonstrated in the paper that currently, there is little involvement of marketing researchers in the study of BM; however, there are multiple touchpoints between these areas of knowledge, which can help in further developing BM studies. On the basis of these findings, a conceptual model and new network-based approach to BM analysis is offered, which allows addressing the complex nature of networked interaction among BM participants. The approach includes stepwise algorithm for BM analysis designed for business practitioners.Research limitations/implicationsThe proposed approach can be applied by business practitioners to analyze and improve their BM via managing the interactions of inter-organizational network participants with a focus on customer interests. While the approach is of a universal character, the specific tools for evaluating BM on each stage may vary across different markets.Originality/valueThis research contributes to the current conceptual knowledge on BM studies development and their relationship with marketing. It also contributes to theory and practice by the development of a new marketing-based approach to the BM analysis focused on managing business relationships, which allows evaluation of the current state of a BM and provides directions for its improvement. This approach evaluates the alignment of interfirm relationships along the value chain and orients it toward the final consumer.