The theory of consumption values : exploring why leads open (or don't) and view (or don't) e-mail newsletters in the German B2B sector

The relevance of customer value in the decision-making process was defined by Holbrook as follows: "[...] customer value is the fundamental basis for all marketing activity" (Holbrook, 1994, p. 22). The buying decision process starts long before the exchange of money for goods takes place. During the course of acquisition, providers use a variety of contemporary and traditional channels to maintain communication. One of the most popular tools for communication and promotion is still the e-mail Newsletter. Particularly in the area of B2B, the Newsletter cannot be replaced by social media or similar channels. Despite this enduring popularity of the e-mail Newsletter, opening and viewing rates are modest. The aim of this thesis is to identify the reasons why some recipients of e-mail Newsletters read them, whereas others do not, and to help practitioners in B2B improve the impact of their e-mail Newsletters. The current research focuses on the recipients' values as a driver for their decision to open and view e-mail content and applies the theoretical framework of the Theory of Consumption Values (Sheth, Newman, & Gross, 1991a). To avoid knowledge dilution, this study narrows the researched group down as follows: a) Leads (potential customers); b) technical and manufacturing managers and CEOs of small and medium-sized enterprises; and c) the German market. The research employs an inductive and qualitative approach. In the course of 32 semi-structured interviews, this study identifies the values impacting the recipients' decision to open and view Newsletters. The uniqueness of this study is the application of the Theory of Consumption Values (Sheth et al., 1991a) in the investigation of a problem in B2B. Since the theory has some limitations, previous academic research has applied it exclusively in the area of B2C. However, when developing their theory, Sheth and his co-authors noted one exception that the current research has taken advantage of. The outcome of the research is two conceptual frameworks based on the Theory of Consumption Values. These are the Conditional-Based and the Time-Based Conceptual Frameworks, which can both be applied by practitioners for a better understanding and subsequent improvement of the Newsletter process. As a result, the current thesis closes an academic gap, contributes to knowledge, and provides managerial implications.