Exploring Customer Value in the Hardwood Lumber Industry

In this paper, the author investigates the role of product, service, and price-relative to competition-in determining customer value perceptions among buyers of northern hardwood lumber. Based on survey data collected in December 1999, this study examines the importance of attributes affecting purchase decisions and compares these findings with a regression approach incorporating an explicit customer value measurement. These data indicate that attributes deemed important to the purchaser are not necessarily the same attributes related to perceptions of highly valued suppliers. Results indicate that consistent availability of desired species and aesthetic qualities of shipments are the most influential attributes in the identification of suppliers providing high levels of customer value. Finally, value perceptions are examined across broad industrial buyer segments