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13 July 2017
THE VALUE NET A new tool for understanding value creation company relationships
In marketing, focus is given to competing in the marketing environment, be it local,
regional or global as the key to survival. Competing may not be the answer all the time
especially in this current global marketing environment, where marketers are facing a
fusion of challenges.
In the Summer 2010, Prof. Svend Hollensen from University of Southern Denmark
published the second edition of his book ‘Marketing Management – A Relationship
Approach’. This book is an alternative to the existing American mainstream textbooks,
which concentrate on competing instead of
cooperating. Here he introduces the
concept of the ‘Value Net’.
The main thinking behind this book is that a
focal company can create ‘added value’ by
entering into relationships with others in the
global value chain as illustrated in the socalled ‘value net’.
According to Prof. Hollensen, the value net
reveals two fundamental symmetries.
Vertically, customers and suppliers are
partners in creating value. The other
symmetry is on the horizontal for
competitors and complementors. This article
will only concentrate on the horizontal part
of the value net.
In the horizontal cooperation the mirror
image of competitors is complementors. A
complement to one product or service is any
other product or service that makes the first
one more attractive, i.e., computer hardware
and software, hot dogs and mustard, catalogues and overnight delivery service, red wine
and dry cleaners. The value net helps you understand your competitors and
complementors ‘outside in’. Who are the players and what are their roles and the
interdependences between them?
According to Hollensen, we need to re-examine the conventional wisdom of ‘Who are your
friends and who are your enemies?’ The suggestion is to know your business inside out
and create a value net with the other players. Sometimes it may even be relevant to cooperate with competitors, e.g. regarding development of new fundamental technologies for
benefit of both partners (as shown in the following figure 1).
It reminds about an old saying ‘keep your friends close but your enemies closer!’ Similar
complimentary relationship had been practised to some varying degrees in history by
empires, kingdoms, dynasties and rulers throughout history where enemies formed
alliances to compete with their mutual enemies for political and geographical domination.
This form of relationships in marketing where focus is on building complimentary
relationships provides a focal company the leverage needed in this global environment
while working in synergy with others. Complimenting and competing together in the global
marketplace can enhance the success rate of both companies in the relationship.
The value net of Braun’s Oral-B (a very well-known brand to Germans) could look like like
Figure 1.
Figure 1: The value net of Braun (Oral-B)
Suppliers
Vertical
cooperation:
(Upstream)
Horizontal cooperation:
Competitors: e.g.
Philips Sonicare
Power Toothbrush
Possible cooperation with
Philips about developing
new technologies
in electrical tooth brushing,
e.g. software-development
Focal firm:
Braun (Gillette)
Product:
Oral-B Electrical
toothbrush
Jordan Manual
Toothbrushes (Norwegian
company)
Possible cooperation about
expanding the total product
programme in oral care
Customers
(Downstream)
Source: Hollensen, 2010, page 190
Complementors: e.g.
The assumption is here that Braun Oral B’s product range is consisting mainly of electrical
toothbrushes and that they can create further value by cooperating with complementors
(like a manufacturer of manual toothbrushes – Jordan – and a manufacturer of a
complementary product – like toothpaste – e.g. Colgate). Furthermore Oral B could also
go into a technological cooperation with a competitor, like Philips. Such cooperation could
e.g. end up with a new technological platform, from which both Braun and Philips can
develop new products based on the same basic technology.
Creating ‘added value’ will need to be done with care especially in choosing suitable
complementors who will not only contribute by being part of the ‘value net’ of the focal
company, but a complementor who will continue working together in the relationship.
Source:
Svend Hollensen, Marketing Management - A relationship approach, Financial Times /
Prentice Hall, 2nd edition, 2010 (ISBN 978-0-273-70683-0)