Quantifying value co-creation
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Date
2016
Authors
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Publisher
University of Management and Technology Lahore
Abstract
Service Dominant Logic of Marketing has changed the way Marketing discipline is being understood today. Value co-creation has become central, and one of the most researched topics among marketing scholars worldwide. Value is believed to be realized by the customers. This study is discussing the relationship between value realization facets and customer experience that emerges from a value co-creation process. With assumptions of a positivist paradigm, this study is responding to the call for quantification of value co-creation concept. This research is answering the question: “What is the relationship between realized value facets (monetary-value, relationship- value, and functional-value) and customer experience (experience value) in a B2B context?
The chosen context of this study is systems development and implementation in Information and Communication Technology (ICT) industry. Responses are collected from the team members of client organizations (customers) of different ICT Vendors while implementing services by Microsoft, Oracle, and SAP etc. Seven-point likert scale survey instrument was used to record the responses. Sample size is comprised of 212 respondents, who completed the survey. Multivariate data analysis techniques like exploratory factor analysis (EFA), cronbach’s alpha, and linear regressions have been used to analyze the data.
Data analysis is presenting a comprehensive and extensive set of findings. Experience value (EV) is significantly and positively influenced by monetary (MV), relationship (RV) and functional value (FV). Though all three value facets in value co-creation process significantly affect experience value but customer is more inclined toward relationship and functional value than that of monetary value to evaluate experience.
However, relationship and functional value contributes equally for creating a good customer experience.
This study is incomparably contributing to the current stream of value co-creation literature. Firstly, a statistically valid and reliable instrument to measure different value realization facets in the value co-creation process has been developed. Secondly, this study is measuring the impact of realized value facets on overall customer experience in the value co-creation process. Thirdly, the research is responding to the knowledge call for quantitative studies in the area of value co-creation. Through this study, we now are moving to create a more generalized understanding of value co-creation concept. The limitations and scope have also been discussed along with recommendations for future research.
Description
Supervise by:Dr. Yasir Rashid
Keywords
Customer experience, Value co-creation concept, MS Thesis