Developing a customer value-based theory of the firm

Just as it was inappropriate to characterize this as the development of a new theory of the firm, it also is premature to suggest that this commentary articulates a comprehensive customer value-based theory of the firm. The foundation for this theory was laid decades ago, and the ideas presented in this commentary must be more thoroughly developed before it can appropriately deemed a “theory of the firm.” However, as marketers, we should be committed to the proposition that the creation of customer value must be the reason for the firm’s existence and certainly for its success. Thus developing this theory further and testing the propositions that comprise it should be a high priority for marketing scholars.