Strategies for creating value through individual and collective customer experiences

Kristina Heinonen, Colin Campbell, Sarah Lord Ferguson

Research output: Contribution to journalArticleScientificpeer-review

7 Citations (Scopus)

Abstract

Despite tremendous interest in how online communities create value, existing research tends to focus on limited means through which such value is generated. In this article, we develop a conceptual model of customer value formation. This model rests on two dimensions, namely whether value is formed in the customer or provider domain and whether the value is individual or collective in nature. This enables value formation to be characterized in four ways and enables a more nuanced view of value formation to emerge. Firms are encouraged to reflect on their efforts to support each of the four value formation types. In particular, our conceptualization challenges companies to consider customer contexts outside of customer-firm interaction as important sources of value creation for customers. Such reflection enables practitioners to develop strategies for supporting individual and collective value creation across both the customer and provider domains.
Original languageEnglish
Peer-reviewed scientific journalBusiness Horizons
Volume62
Issue number1
Pages (from-to)95-104
Number of pages10
ISSN0007-6813
DOIs
Publication statusPublished - 2019
MoE publication typeA1 Journal article - refereed

Keywords

  • 512 Business and Management
  • Online communities
  • Customer value analysis
  • Service value
  • Customer value

Areas of Strength and Areas of High Potential (AoS and AoHP)

  • AoS: Competition economics and service strategy - Service and customer-oriented management

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