ABSTRACT
This chapter defines value-based selling (VBS) as an approach that builds on identification, quantification, communication, verification, sharing, and leveraging customer value. It identifies and analyzes key capabilities and management practices required to implement value-based selling in industrial business markets. The chapter analyzes each of the identified capabilities and managerial practices. Typical managerial practices related to value analysis include performing regular surveys, customer workshops, and focus group meetings to explore and document stakeholder processes, goals, challenges, and value drivers and make those results available to sales organizations through information technology (IT) systems, software applications, and other forms of documentation. The findings show that to support organizational learning, build the legitimacy of the value-based approach, provide powerful tools for the early stages of the value-selling process, and build brand awareness, a timely and accurate repository of customers' value experiences is indispensable. Based on the empirical findings, value propositions are pre-designed and focused on highlighting customer benefits.
