The importance of emotions in business markets : Ways to improve business relationships with emotional experience
Spies, Dagmar (2016)
Spies, Dagmar
Tampereen ammattikorkeakoulu
2016
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201702031965
https://urn.fi/URN:NBN:fi:amk-201702031965
Tiivistelmä
This bachelor’s thesis is commissioned by VALIT (Value Indicator Tool) which is a Tekes funded R&D-project of Tampere University of Applied Sciences, Tampere University of Technology, University of Vaasa and VVT Research Centre. The main aim of this thesis is to ascertain how significant emotions are in business markets. The objectives are to find answers to the research questions regarding which emotions suppliers and customers experience and if these emotions can be used to improve business relationships.
Although the importance of emotions in business markets has not been studied as much as in consumer markets, some literature, such as expert books, web-based articles, and a number of studies, provided essential insights into the topic and, therefore, they served as theoretical framework for this bachelor’s thesis. Furthermore, five structured face-to-face interviews were conducted among German businesspeople from different fields and offered further details on the importance of emotions in business markets. The interviews provided mainly answers to the questions of what kind of emotions business customers and suppliers experience and what the most crucial project phases are which affect the emotional experience the most.
According to the studies and four out of the five interviewees, the importance of emotions in business markets is inevitable. Yet, especially the articles pointed out that this has not been emphasised enough. Furthermore, positive emotional experience cannot only in-crease the monetary value of business operations but it also strengthens the bond of a business relationship. For this reason, emotional experience is an important factor whether a business relationship will last for a long or short term. Good communication and human relations have been named as important factors for a positive emotional experience by the interviewees.
Focusing more on emotions in business communications and customer relationship management will become more important in business markets in the near future. To illustrate, there is evidence that decision makers base many of their decisions on what they feel. Moreover, products in business markets do not differ much from each other. A positive emotional experience is, therefore, also an important differentiation factor.
Although the importance of emotions in business markets has not been studied as much as in consumer markets, some literature, such as expert books, web-based articles, and a number of studies, provided essential insights into the topic and, therefore, they served as theoretical framework for this bachelor’s thesis. Furthermore, five structured face-to-face interviews were conducted among German businesspeople from different fields and offered further details on the importance of emotions in business markets. The interviews provided mainly answers to the questions of what kind of emotions business customers and suppliers experience and what the most crucial project phases are which affect the emotional experience the most.
According to the studies and four out of the five interviewees, the importance of emotions in business markets is inevitable. Yet, especially the articles pointed out that this has not been emphasised enough. Furthermore, positive emotional experience cannot only in-crease the monetary value of business operations but it also strengthens the bond of a business relationship. For this reason, emotional experience is an important factor whether a business relationship will last for a long or short term. Good communication and human relations have been named as important factors for a positive emotional experience by the interviewees.
Focusing more on emotions in business communications and customer relationship management will become more important in business markets in the near future. To illustrate, there is evidence that decision makers base many of their decisions on what they feel. Moreover, products in business markets do not differ much from each other. A positive emotional experience is, therefore, also an important differentiation factor.