This paper regards relationship value as an important, explanatory concept within the different stages of the business relationship life cycle. Therefore, it describes steps towards the empirical assessment of relationship value and the evaluation of relationship value effects. It is suggested to assess relationship value through conjoint analysis, since it meets certain standards for value assessment. Relationship value assessment through conjoint analysis provides the basis for analyzing the effects of relationship value on the stability of business-to-business relationships. Based on social exchange theory a model of relationship value effects is formulated, which will be tested using a structural equation approach. The proposed proceeding is expected to deepen and enlarge already existing knowledge concerning relationship value in business-to-business markets, especially since it results in an explicit, multidimensional operationalization of relationship value.