Abstract
Purpose
Emerging economies are moving towards experience economies. Be it products or services, it is experience that matters most to the customers. Products have to be wrapped in the flashy wrapping of experience for the customers to prefer them. Earlier businesses used to function like traditional theatre, with organizations working on clearly defined roles and customers watching passively on paid tickets. But now, businesses seem to be like experiential theatres where everyone and anyone can take part. Customers don’t want to be passive watchers but like to be active participants. The paper proposes a framework for effective customer participation in service industry. The purpose of this paper is to study the effect of customer participation through co-creation on customer experience, trust and brand loyalty.
Methodology
The paper validates the effects of customer participation on trust and brand loyalty mediated by customer experience dimensions using structural equation modelling.
Findings
The paper supports significant positive relationship between co-creation and customer experience dimensions.The paper also establishes positive relationship between co-creation, trust and brand loyalty mediated by customer experience dimensions.
Originality
The paper is an original contribution with data collected from Banking Industry.
Original language | American English |
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Journal | International Journal of Sales & Marketing Management Research and Development |
Volume | 6 |
State | Published - Jan 1 2016 |
Keywords
- co-creation
- customer participation
- customer experience
- trust and brand loyalty
Disciplines
- Business
- Economics
- Marketing