ABSTRACT
The different views on value and its creation show some tensions and conflicts between the views, but more significantly, highlight the trend towards a broadening of the concept of value. Value is a key component of securing work, survival in the marketplace, and a key dimension of differentiation. It is central to market management and business development, and should be central to marketing and business development Management (BDM), especially for project businesses employing relationship and entrepreneurial marketing. Marketing and BDM provide an avenue for market management and business development by investing in services and capabilities that add value over and above the competition. The appropriate value can be assessed as the discounted present value of future cash flows. Client lifetime value (CLV) is a helpful measure in this respect and can feed into qualitative evaluations of the return on marketing investment (ROMI). Investment and expenditure on fixed costs can help accelerate projects through their lifecycles.
