The rise of the sharing economy is transforming the tourism and hospitality industry (So, Oh, and Min, 2018; Zhu, So, and Hudson, 2017). The growing popularity of Airbnb has led a number of recent studies to investigate consumer value derived from such innovative consumption model. In the context of Airbnb, research shows that perceived value motivated travelers to choose Airbnb (Mao & Lyu, 2017). However, the theoretical construct of consumer value includes multiple dimensions, such as emotional value, social value, price value, and quality value, and how each dimension contributes to consumer attitudes and behavioral intentions toward Airbnb is unexplored. Therefore, this study sets forth a national field investigation to provide a holistic understanding of consumer evaluation of various value dimensions with respect to Airbnb experiences. To empirically test the proposed model, a quantitative, national online survey was conducted using Qualtrics Online Sample. After checking the performance of the measurement model, we evaluated the results of the structural model. The results show that emotional value and quality value significantly explain overall attitude toward Airbnb, whereas, price value and social value were not significant in predicting attitude. However, price value and social value, together with overall attitude, significantly explain consumer’s purchase intention. The results show that the t values from bootstrapping were greater than 1.96, and the R2 values for endogenous variables well exceeded .26. All exogenous constructs producing effect sizes ranging from small to large. In addition, the Q2 for the endogenous latent constructs were well above the threshold, with .421 for overall attitude and .472 for behavioral intentions, thereby substantiating the structural soundness of the proposed model.

The Theory of Value Drivers, or Value Driver Theory (Wendee, 2011), is useful in understanding the value creation process in any enterprise. Innovation and strategy are important components in the value creation process. This research, which is based on Value Driver Theory, explored the role that innovation and strategy have in the value creation process and how they are employed in creating enterprise value. Value Driver Theory was discovered using two different, but compatible, research methodologies. The qualitative study used to discover Value Driver Theory explored the effect of business value drivers on the valuation of businesses in the United States and proposed a theory of value drivers. The Value Driver Theory study used two research methods – grounded theory and the Delphi method - to explore the effect of business value drivers on the valuation of businesses in the U.S. and to propose a theory of value drivers. In addition to a list of 72 individual value drivers, which includes innovation and strategy, the theory of value drivers presents a comprehensive value driver possibilities frontier and value driver chain, both of which are part of and are used to explain the theory of value drivers. The theory of value drivers is comprised of 28 propositions that work in concert with the possibilities frontier, the value driver chain, and other elements that are described in the paper. The Value Driver Theory paper differs from other studies as follows: First, the paper significantly extends the notions, ideas, and concepts from previous studies on value drivers. Second, the paper creates a comprehensive classification scheme for value drivers and has identified many more characteristics and properties of value drivers than previous studies. Third, the study identified 72 specific value drivers through the literature review and the Delphi study. Fourth, the paper consolidates the material from the literature review and the result of the research conducted through the Delphi and grounded theory studies and codifies it into the theory of value drivers. Subsequent to the publication of the paper on Value Driver Theory, new conceptual frameworks and tools have been developed to enhance the usefulness of Value Driver Theory in evaluating the enterprise value creation process. These conceptual frameworks and research tools were explored in the current study in general terms; and particularly as to how they relate to and enhance the use of innovation and strategy in the value creation process.

Mobile shopping motivations affects the interaction between mobile shoppers and mobile retailers. This study examines how mobile shopping motivations affect value co-creation, customer equity drivers, and customer lifetime value through a structural equation model. Mobile shopping motivations as mobile shoppers’ needs are time saving, right purchase and money saving. To meet mobile shoppers’ needs, mobile shoppers, mobile retailers, and other customers are willing to collaborate. Value co-creation that Yi and Gong (2013) scaled includes customer participation behaviour such as information seeking, information sharing, responsible behaviour, and personal interaction, and customer citizenship behaviour such as feedback, helping, advocacy, and tolerance. The results indicate that mobile shopping motivations are significant determinants of value co-creation behaviours, implying that mobile shopping motivations are driving factors of value co-creation. Customer participation behaviour has significant effects on value equity and brand equity while customer citizenship behaviour shows positive effects on brand equity and relationship. As for customer lifetime value, relationship equity has significant positive effect, while value and brand equity had no significant influence. This study also shows that mobile shopping motivations affect both value equity and relationship equity of mobile shopping apps by improving information sharing, responsible behaviour, and personal interaction, feedback, helping, and advocacy. Value equity and relationship equity also have significant effects on customer lifetime value. The authors discuss the theoretical and managerial implications for their findings.

As visual marketing gains a more critical role in marketing communications, consumer eye-tracking data has been utilized to assess the effectiveness of those marketing efforts (Croll, 2016; Glazer, 2012). With eye-tracking data, researchers can capture consumers’ visual attention effectively and may predict their behavior better than with traditional memory measures (Wedel & Pieters, 2008). However, due to the complexity of data: its volume, velocity and variety, known as 3Vs of Big Data, marketing scholars have been slow in fully utilizing eye-tracking data. These data properties may pose a challenge for researchers to analyze eye-tracking data, especially gaze sequence data, with traditional statistical approaches. Commonly, researchers may analyze gaze sequences by computing average probabilities of gaze transitions from a particular area of interest to another area of interest. When the variance of gaze sequence data in the sample is small, this method would uncover a meaningful “global” trend, a trend consistent across all the individuals. However, when the variance is large, this method may not enable researchers to understand the nature of the variance, or the “messiness” of data. In this paper, first, to overcome this challenge, we propose an innovative method of analyzing gaze sequence data. Utilizing the singular value decomposition, our proposed method enables researchers to reveal a “local” trend, a trend shared by only some individuals in the sample. Second, we illustrate the benefits of our method through analyzing gaze sequence data collected in an advertising study. Finally, we discuss the implications of our proposed method, including its capability of uncovering a hidden “local” trend in “messy” gaze sequence data.

Introduction Customer co-creation – customers‘ active participation and interaction with the company during their consumption processes, has gained increasing attention in tourism industry (Bertella, 2014; Chathoth et al., 2016; Campos, 2015). For example, Finnair and Helsinki airport invited passengers to workshop for co-developing new service concepts to improve passenger experience (Loukas, 2013). Despite of the increasing enthusiasm at the firm‘s side, customers do not necessarily share the mindset and feel ready for cocreation. The success of value co-creation greatly depends on continuous collaboration between customers and companies (Chathoth et al., 2013), making knowledge regarding customers‘ engagement in value co-creation essential. However, insufficient research attention has been devoted to theorize and empirically investigate the drivers of cocreation behavior in tourism (Grissemann & Stokburger-Sauer, 2012). To address this research gap, we draw on the organizational socialization theory (Van Maanen & Schein, 1979) to propose and empirically test customer education as driving factor for tourists‘ co-creation behavior during their tours. Additionally, we propose customer readiness as a mechanism mediating the effect of customer education on value co-creation behavior, while such effect should depend on tourists‘ involvement with tourism. Background and hypotheses development Organizational socialization refers to the process by which a newcomer gradually absorbs values, abilities, expected behaviors, and necessary social knowledge for assuming an organizational role and for participating as an organizational member (Louis, 1980, p. 229–230). Similar to the organizational socialization perspective, customer socialization characterizes how customers develop skills, knowledge, and attitude relevant to the marketplace (Ward, 1975), which offers a lens to explain how service providers can assist customers and behave as effective co-creators in the service system (Claycomb, Lengnick-Hall, and Inks, 2001). Büttgen et al (2012) demonstrated that customer socialization by training tactic has more important influence on consistent beliefs of service quality than prior reinforcement experiences, which engenders co-production motivation, in turn, leading to coproduction behavior as distal outcome of the socialization tactic. Previous studies suggest favorable customer outcomes to derive from the provision of customer education (Damali et al., 2016). Thus, this study proposed customer education as a socializing tactic, which is mediated by customer readiness for co-creation, to determine tourists co-creation behavior. The concept of co-creation has gained increasing attention in tourism literature, which is often described as the tourist‘s active participation, engagement and interaction during the consumption experience (e.g., Bertella, 2014; So et al., 2014). As Prahalad and Ramaswamy (2004, p. 8) stated, cocreation is ―the joint creation of value by the company and the customer, allowing the customer to co-construct the service experience to suit her context‖. Indeed, creating a favorable, memorable experience involves not only the service providers but also the tourism customers because customers are always the value co-creator (Vargo and Lusch, 2004). Challagalla and colleagues (2009) posit that firms can reach out to contact the customers to provide service after a sale is complete, rather than respond upon the customer‘s requests. In specific, Challagalla and et al. (2009) suggest the proactive service initiatives to consist of three dimensions, namely proactive prevention, proactive education, and proactive feedback seeking. In this study, the three key forms of proactive post-sales services proposed by Challagalla et al. (2009) provides a foundation that helps us to conceive customer co-creation behavior and define the dimensions underlying customer co-creation behavior of tourism services. Customer education, according to Meer (1984), involves learning activities that are organized and sustained by a firm to impart attitudes, knowledge or skills to customers or potential customers. Meanwhile, customer co-creation readiness (CCR) as a customer‘s condition or state in which he/she feels prepared to collaborate with service provider in value co-creation behavior, indicated by role clarity, ability and motivation to co-create (Meuter et al., 2005). Proper socialization process helps customers understand the product or service process as well as their role in performing service tasks, which not only could prevent customer‘s disruptive behaviors during the service process but also facilitate service flow and productivity (Rollag, 2012). Taken together, we propose the following hypotheses: H1: customer education will have a positive effect on customer co-creation behavior H2: Customer co-creation readiness will mediate the positive effect of customer education on customer co-creation behavior. Further, we postulate that tourist‘s product involvement is a boundary condition that constrains the positive effect of customer socialization. Socialization process does not always have much weight on tourists because the influence of socialization on each individual depends on tourists‘ individual characteristics (Van Maanen & Schein, 1979). Some tourists are highly interested in traveling whereas some consider traveling as a dessert in their meal. In line of this sense, we suggest the following hypothesis: H3: Product involvement will negatively moderate the mediation effect of customer co-creation readiness on co-creation behavior. Methodology The survey was posted on several well-known travel forums and referral networks. After eliminating invalid surveys, the authors obtain 300 valid questionnaires. Table 1 presents the sample characteristics. Customer education are measured by four items adapted from Bell and Eisingerich (2007). Product involvement depicts a customer‘s inherent needs, values, and interest towards tourism and is measured by ten items from Zaichkowsky (1985, 1994). Customer co-creation readiness is measured as a reflective first-order and reflective second-order construct by three dimensions: role clarity, ability, and motivation with 12 items adapted by Dellande et al. (2004) and Meuter et al. (2005). Customer co-creation behavior is measured as a reflective second order and reflective first order construct constituted by three dimensions of co-creation behavior with 12 items developed based on the review of concerns in the pre-site, on-site and post-site from several famous travel agencies. Results Measurement validation of constructs from construct reliability, convergent validity to discriminant validity were examined; and the results are provided in the table 2, indicating measurement validation requirements are satisfactory. Then, hypotheses testing was performed. In each analysis, we control variables, including customer gender, previous transaction experience with the travel agency (EP), and social desirability (SD), which are expected to have potential influence on co-creation behavior. H1 predicts a positive relationship between customer education and value co-creation. In support of H1, the analysis shows that customer education positively relates to co-creation of customers (β = 0.272, p = 0.043, R2adjusted= 0.292). Gender (β =-0.170, p<0.001) and SD (β =0.141, p=0.011) are negatively and positively related to customer co-creation behavior respectively. To test the mediating effect of customer readiness on the relationship between customer education and customer co-creation behavior, we used the PROCESS Macro (model 4) developed by Hayes‘s (2013) and estimated the effects with a bootstrap sample of 5000 cases. The indirect effect test indicates that customer education had a significantly positive effect on customer co-creation via the mediation of customer readiness for co-creation (0.312; 95% bootstrap CI [0.157, 0.517]) because the confidence interval did not include zero. The results support H2. Gender also has a significant effect on customer co-creation (β =-0.189, p <0.05). H3 postulated that product involvement will moderate the mediation effect of customer readiness. We used the PROCESS macro model 8 established by Hayes (2013) to test the moderated mediation. The conditional indirect effect test shows that customer readiness significantly mediates the influence of customer education on customer co-creation behavior, regardless of the level of product involvement (zero was not included in the confidence intervals). Nonetheless, customer education on customer co-creation behavior via customer readiness is significant and stronger in low level of product involvement (0.281; 95% bootstrap CI [0.186, 0.398]) but weaker in high level of product involvement (0.128; 95% bootstrap CI [0.029, 0.256]). Therefore, H3 is supported. Among the controlled variables, gender is the only significant predictor of customer co-creation behavior (β =-0.158, p<0.05). In a summary of dominant results of control variables, gender is significant in all three of the tested hypotheses; particularly, female shows a higher level of co-creation behavior than male. Conclusion we introduced organizational socialization theory to the literature on co-creation of tourism context and explored the effect of firms‘ education effort to socialize customers in co-creation activities. We found customer education as a socialization tactic and then conducting an empirical study by collecting data from several travel agencies to investigate the effect of firms‘ socialization tactic on customer co-creation. The results suggest that customer education could promote customer co-creation through customer readiness as a mediator. We also investigated whether the effect of socialization tactic differs on the different levels of product involvement. The results show that customers with high involvement were less influenced by customer education than those with low involvement.

In tourism industry, tourists at the post-fordist era have overlooked tangible aspects of consumption by focusing on tourists’ experience and satisfaction. Recently, many scholars have employed the marketing concepts to investigate tourists’ need, want, and demand, especially, value co-creation. However, there is a little interest to focus on value co-creation in tourism industry, in spite of the fact that tourists in the digital age have decided to travel by intangible aspect of consumption – emotional and experience. Additionally, we also employ the concept of psychological carrying capacity to understand how tourist value relates to psychological carrying capacity. A total of 380 completed questionnaires are collected and the data were analyzed using Pearson’s correlation analysis. The correlations between tourist value and psychological carrying capacity were examined in order to understand the relationship of tourist value toward environmental concern in the settings of island area. The results show that there is the direct relationship between tourist value, perceived crowding, interactions between tourists, perceived physical environment, overall satisfaction, and returning intention.

Drawing both on international marketing literature (Steenkamp, Batra, & Alden, 2003) and value/risk research (Sweeny & Soutar, 2001; Mitchell, 1999), the current study investigates (1) how consumers’ perceptions of brand globalness/localness (PBG/PBL) influence their assessment of different dimensions of perceived value as well as the risk associated with making a purchase decision; and (2) how these value and risk assessments mediate the relationships between PBG/PBL and brand purchase intentions. We apply signaling theory (Kirmani & Rao, 2000) to relate PBG and PBL to consumers’ perceptions of risk as well as their perceptions of functional, emotional and social value. For empirical verification of the hypothesized relationships, we use comparable samples from two European countries that vary substantially in terms of economic development (Slovenia and Bosnia & Herzegovina). Results show that only emotional value serves as a consistent mediator of PBG and PBL on purchase intentions in both countries, whereas no mediating role could be identified for perceived risk. In terms of managerial implications, our findings reveal the importance of emphasizing the emotional value of a brand, which serves as a stable facilitator through which PBG/PBL influence consumers’ purchase intentions across the distinct market settings.

Introduction In recent times, mass customization strategy has been actively adapted even in the food service industry, which provides services wherein consumers select the main ingredients of the food they order according to their preference. In this study, we examine the effect of mass customization strategies perceived by consumers in the food service industry. We also includes the external and internal environmental factors stimuli surrounding the situation of purchasing customized food items to better predict how consumer’s perceived value of mass customization might be formed within the context of service industry. Evidence shows that consumers’ perceived value is high for mass customization in food consumption service compared to food service for a fixed menu. The findings further suggest that this effects of mass customization on consumer perception is moderated by social influence (group vs. individual) and food type (utilitarian vs. hedonic). Theoretical Development Recent research in the field of mass customization has demonstrated that the advantage of designing consumer’s own products is in increasing consumer's perceived benefits while engaging in the customization of tangible products. These studies have shown that the mass customization provides consumers with a utilitarian value due to the purchase of optimized products that meet their individual needs and various values that are embedded in the customization process, such as hedonic value, self-expressive value, and creative achievement (Merle, Chandon, Roux, & Alizon, 2010; Yoo & Park, 2016), and that this value recognition leads to positive attitudes and behavioral responses such as high willingness to pay (Franke, Keinz, & Steger, 2009; Schreier, 2006), purchase intent, and loyalty (Yoo & Park, 2016). However, whereas research on mass customization focusing on tangible products has been actively conducted, research in the field of intangible services, is still lacking in two respects. First, there has been very little discussion of the effectiveness of mass customization strategies in the food service industry. Specifically, based on the stimuli-organism-response (S-O-R) framework, which states that environmental stimuli (S) lead to the formation of a customer perception (O) that induces consumers’ behavioral responses (R) (Mehrabian & Russell, 1974), existing research focused on the relationship of customer’s behavioral response to mass-customized food service (S-R relationship) (Kuo & Cranage, 2010; Wolf and Zhang, 2016), failing to embrace S-O relationship that focuses on how mass customization differs from a standard system in terms of how consumers perceive value. Considering that mass customization services can be regarded as a form of customer engagement strategy (Chathoth et al., 2014; Chathoth et al., 2016), it can be assumed that mass customization in services can induce positive consumer perception. Second, little research has yet examined situational factors that affect consumer response in purchasing mass customization of products/service. Considering that service environments play a significant role in service delivery by strengthening customer perceptions and retention (Baker, Parasuraman, Grewal, & Voss, 2002; Sherman, Mathur, & Smith, 1997), it is necessary to identify the internal and external environmental factors that limit or enhance consumers’ perceived value of the mass customization for effective implementation of the mass customization strategy. The aim of the present research is to empirically examine the effects of mass customization on consumer responses. It is hypothesized that consumers’ perceived value might be high for mass customization in food consumption service (compared to food service for a fixed menu) (H1), which is consistent with previous literature on consumer responses to mass customization in tangible. Furthermore, the current research further includes various environmental stimuli surrounding the situation of purchasing customized food items to better predict how consumer’s perceived value of mass customization might be formed within the context of service industry. Based on the assumption that (a) people's choice of consumption is affected by the expectations of how others evaluate their decisions (Ariely & Levav, 2000; Calder & Burnkrant, 1977) and that (b) consumers are more concerned about social norms and therefore make similar choices to blend in resulting in uniformity at the group level (Tice, Butler, Muraven, & Stillwell, 1995), it is expected that consumers sometimes feel compelled to refrain from choosing favorites because of how they expect to be perceived by others, hindering consumer’s benefits of mass customization. In addition, there are two food types based on the goal of consuming food: utilitarian food and hedonic food (craving for sweetness, e.g., desserts) (Wansink, Ittersum, & Painter, 2004; 2005). In pursuing the hedonic goal, the consumer tendency to engage in various behaviors is strengthened by the desire to express one’s personality to others (Ariely & Levav, 2000; Ratner & Kahn, 2002). Accordingly, in the present research, we explore the perceived value of mass customization moderated by social influence (H2), and food type (H3). In this model, social influence (group vs. individual), which is the factor outside the scope of customizing process, is regarded as an external variable and food types (utilitarian vs. hedonic), divided according to the purpose of food consumption, as an internal variable. Method We used a 2 (customization: low vs. high) × 2 (social influence: individual vs. group) between subject experiment conducted on the subjects regarding two types of food service: utilitarian food (main course) and hedonic food (dessert). We assigned 208 participants randomly to one of four conditions. Participants were asked to imagine they were visiting the high customized restaurant with their colleague together (vs. alone) that provide high customized service (vs. low customized service) and saw a menu for a food item. Modified from Kuo and Cranage (2010) study, two level of customized menu scenarios were used in this study. In the high customization scenario, participants are told that they were in a restaurant where they were offered to customize their dishes with choices of ingredients. In the low customization condition, participants were told that they were in a restaurant where they ordered among fixed menu items. Based on pretest result, we used pasta, which is entrée for the utilitarian food, and use ice-flake, which is dessert for the hedonic food. After reading the scenario, participants provide their perceived value of mass customization ratings of the service process. Results and Conclusion First, an analysis of variance (ANOVA) revealed a significant effect of mass customization demonstrating that on perceived value, participants who read mass customization service condition had a higher perceived value on their food than participants in the fixed menu condition (H1). Second, in order to examine whether social influence (H2) and food type (H3) moderate the effect of mass customizatino on consumer perceptions, a moderated moderation model was performed a bootstrapping procedure with 5000 samples using the PROCESS model 3 (Hayes, 2016). The result revealed a significant three-way interaction effect among level of customization (high vs. Low), social influence (group vs. individual), and food types (utilitarian vs. hedonic). As the level of customization increases, the overall perceived value increases; however, it is confirmed that, when making decisions about food in a group situation, there are restrictions on perceiving the value that the consumer can customize and feel as compared to the individual situation. Finally, impact of social influence on the perceived value of customization is moderated by food type (hedonic vs. utilitarian). In other words, in hedonic food consumption situation, the modeartion effect of social influence on the perceived value of customization is weakened. Consumers are more likely to appreciate the process and consider it more palatable when they use mass customization service in restaurant. However, when people are conscious of the presence of others, the act of selecting food ingredients according to one’s own preference is restricted. Therefore, even if customized food is ordered in the presence of the group, its perceived value will be as lower than that of a fixed menu. In addition, when people use mass customization service in hedonic food consumption situations, regardless of group influence, they perceive that the value of customized menu is higher than that of the fixed menu. We expect that the study findings and framework will provide practical and theoretical implications such as the development of theories on food service situations, as well as aid restaurants in establishing marketing strategies. In addition, identifying internal and external environmental factors that limit consumers’ perceived value of mass customization will enable restaurants to find a suitable menu composition method to enhance and maintain customers’ perceived value and build a promotional strategy accordingly.

How the destination image is presented in terms of the content and the selected media is known to have a considerable influence on consumers. In the current study, we examined the effect of destination images of Japanese hot spring hotels through photographic images taken by actual hotel guests on intended customer engagement behaviors (CEB) and their evoked conceptualization of the hotels. By showing photographic images of two types of hot spring hotels (traditional/contemporary) to participants from the United States (Phase 1, n=154) and Japan (Phase 2, n=677), we found that the image of traditional hot spring hotels induced higher evaluations and stronger CEB. When participants were clustered based on their travel motivations, we also found that, in both inbound and domestic markets, more engaged tourists gave higher evaluations and stronger CEB. The results suggest that the relationship among key constructs tested in this study validates the conceptual perspective on the theory application of destination image and CEB to hotel operations. From a practical perspective, hotel managers should carefully reconsider the primary drivers that attract tourists to visit the site and stay at their hotel. In addition, when developing promotional materials, managers should also consider key features in the photographic image to create a desirable destination image to attract tourists to visit and recommend the property to others.

Understanding consumer insight in luxury watch purchase is crucial in the current situation where the industry is recovering from a downturn. Today, the consumer does not only purchase a luxury watch to impress others as in the past. Using the means end chain approach, this study discovers that branding, together with design, function and price are key attributes that customers consider. Consequently, the consumer benefits from having a sense of personal identification. In addition, today the consumer perceives the benefit of luxury watch purchase as an investment. Therefore, they seek product distinction, durability, and a value-work product, in order, to serve the perceived value of capital investment. The results of the study reflect a changing trend in the luxury consumer. Prestige value is not the only key factor determining the purchase decision as was found in previous studies. Therefore, the luxury watch players, in an effort to elicit increased sales, should consistently build the brand profile by offering both functionality and design. Furthermore, communication of focus on quality leads to durability that would be considered as an investment asset from generation to generation. Introduction In the luxury watch industry, despite the start of a recovery, from a downward trend, the growth rate is forecast to be at a slow pace (ReportLinker, 2017; Deloitte, 2016). The global luxury watch players face the challenge of decreasing demand as per the change in consumer behavior (Financial Time, 2017). Like other luxury goods, the luxury watch is considered as a product that is not entirely necessary but the drive behind the buying intention is due solely to the personal desire of the consumer In addition, individual perception as well as consumer purchasing power, has a strong link with decision making. Why a consumer buys a luxury watch today is rather different from why they bought one ten years ago (Adams, 2017). This study is conducted in order to understand luxury watch consumer insight using the means end theory, in ways of appropriation, and examine variations in consumer willingness-to-pay (Gengler & Mulvey, 2017). Luxury consumption behavior There are numerous studies to be found that explore luxury product consumption starting from extrinsic themes like consumer purchasing power (e.g. Veblen, 1899), consumer characteristics (e.g.Dubois & Laurent, 1993); (O'cass & McEwen, 2004), consumer behavior (Vigneron & Johnson, 1999; Kastanakis, & Balabanis, 2012) to intrinsic themes like consumer motivation (e.g.Xiao-hui, 2006; Truong & McColl, 2011), consumer perception (e.g. Zhan & He, 2012; Vigneron & Johnson, 2017) and at a more subjective level of consumer value (Sukhdial, Chakraborty, & Steger, 1995; Moraes, Carrigan, Bosangit, Ferreira, & McGrath, 2017; Vigneron, & Johnson, 2017). This is because the nature of the consumer has changed. The current consumer does not view purchasing a luxury item as a vehicle to impress others but much more to serve their own perspectives (Wiedmann, Hennigs & Siebels, 2009). Thus to cope with this downtrend, it is necessary, nowadays, for luxury brand suppliers to have a deep and detailed understanding of customer insight. Means end chain theory (MEC) and laddering MEC has been regarded as one of the most felicitous theories in consumer research since 1980 (Grunert et al. 2001). It was developed to help understand consumer insight in the decision making process (Gengler, Mulvey, & Oglethorpe, 1999) starting from how the consumer thinks about a product and why they buy it. Through MEC (Olson and Reynolds, 1983; Gutman, 1982; Howard, 1977; Young and Feigin, 1975), the researcher and marketer can discover the salient meanings consumers associate with products, both in services and behavior. The chain explains the linkage; starting from attributes through to consequences, and then to values in the form of a hierarchial model Gutman, 1982; Gengler, Mulvey, & Oglethorpe, 1999; Leao and Mello, 2007). Beginning with the first level, attributes are characteristics of the product/service the consumer is expecting which can be both tangible and non-tangible features. However, attributes will mean nothing to the consumer, without so called consequences (Klenosky, 2002). At the second level of the hierarchical model, consequences are benefits that take part in explaining why those attributes are important to consumers (Olson and Reynolds, 1983). The consumer is looking for particulars benefits when purchasing that certain product or service (Voss and Gruber, 2006). The final level is value. The consumer judges the benefit of the product based on the perceived value, in the mind of the customer (Gutman, 1982; Olson and Reynolds, 1983; Costa, Dekker, and Jongen, 2004). It is notable that the higher the hierarchial level, the greater the level of abstraction (Woodruff & Gardial, 1996). Using the MEC helps gain consumer insight information which allows the luxury brand supplier to offer products which are best suited for their targeted consumers (Petison, Thongthou and Lekmoung, 2012). Methodology By its nature, the MEC is adopted as a qualitative research method. In order to understand why a consumer is interested in a product and makes a purchasing decision (Smith and Swinyard, 1999); the decision making process can be revealed using the laddering interview (Gutman, 1982; Olson & Reynolds, 1983; Ozguven, 2012). Through the laddering interview, researchers decide to apply a soft laddering interview; an open answer question, rather than hard laddering interview; or a fixed answer question, to enjoy the benefits of go by the flow (Ozguven, 2012). Furthermore, soft laddering interview is well suited to the elite in a sense that interviewer can adjust questions depending on answers and ambience (Harvey, 2011). In this study a total of 30 luxury watch consumers; 18 females and 12 males, who recently bought luxury watches in 2017 were interviewed. This is because the researchers want to obtain the most up to date information. This group of consumers tended to purchase a luxury watch every year. The most popular brands these consumers purchased are Rolex, Patek Philippe, Panerai and Audemars Piguet. In face to face time, a semi structure interview was applied based on Reynolds and Gutmam (2001), who suggested questions such as; What affects your purchasing decision?, How do you feel about the product? Why do you want to wear this watch? etc. All interviews were recorded and verbatim transcripts produced. Content analyses were applied following the interviews. The preliminary categorization was into groups of attribute consequence and value, and recurring words with similar meanings collected in clusters. Research triangulation was applied to ensure validity. The researchers created a hierarchical value chain for each consumer then analyzed the findings by using LaddermapTM software. Results According to the content analysis process, a total of 28 attributes, 22 consequences, and 15 values were found in the study. Through the LaddermapTM software analysis only 7 attributes, 11 consequences, and 9 values can be reported as in figure 1. Figure 1: Hierarchial value map of luxury watch purchase Brand is the most important attribute from the viewpoint of the luxury consumer followed by design, price and function. For example, one consumer mentioned that “…brand helps one who wears it by identification…it reflects a certain lifestyle…wearing a Rolex is easy to take care of because of its quality as well as the ease to wear on any occasion…it is value for money… but more than this as it constantly appreciates in value.…” In addition, brand is a key attribute that leads to two most important consequences which are personal identification and investment. However, impressing others, which used to be a key rationale for purchasing luxury product is found to be absent from the top consumer benefits nowadays. However, today, luxury brand consumers are more concerned with distinction, durability, and value-work product as a consequence of watch purchase. For example, one consumer said that “…normally, women do not wear Pannarai. I love to be different…so I bought a limited edition….I wear it constantly for both work and leisure activities…although the price is high, I feel secure with the price paid…it has a warranty and good after- sales service…” Among reported values, monetary satisfaction is found to be the most the important followed by self- image and pleasure. For example, one consumers said that “…I always buy Rolex…my parents also use Rolex. From my parent’s experience of use, it was made aware that the Rolex is fabulous due to its quality and resale price. …I have never ever changed my mind about Rolex…it is excellent value as an investment…I am happy and satisfied with the money I have spent…” This study also found other consumers who expressed their satisfaction with money invested in comparison with another investment options such as gold or stocks. Moreover, it is an investment that can be passed on to their children. Discussions and Implications Nowadays, brand, design, price and function are the key attributes that luxury consumers focus on. Luxury brand suppliers should pay particular attention to a design that reflects the unique identity of the brand and distinguishes it from competitors. This is a consistent finding of Subhadip, Jain, &Matta (2018) that the luxury product ought to reflect its own creativity, artistry, and uniqueness. Moreover, consumers prefer a luxury watch that offers various functions that they can be used with ease on any occasion. In addition, the luxury consumer does not only purchase a watch that represents their self-image and bring in pleasure value, but also monetary satisfaction which is found to be most important nowadays so that the luxury watch player should advertise their brand based on this distinctive study finding. Durability is a reflection of quality brand. Warranty is the linkage between quality and value for money. Monetary satisfactory also comes from the benefits of investment and a generation to generation heritage.

Inspired by the success of the Dove real beauty campaign, companies such as Amazon Fashion, Nike and Walmart have started to adopt authentic branding strategies, i.e., strategies based on the use of ordinary looking models to reflect real consumers in brand communications (e.g., Zombeck, 2015). Authentic branding is an alternative to the strategy of aspirational branding, where companies use “attractive” models to communicate that consuming their brands will bring consumers closer to an idealized view of themselves (e.g., being an attractive person like the models in the ads; D'Alessandro and Chitty, 2011). However, the body of evidence on their superiority over aspirational strategies is inconclusive. We expand knowledge on aspirational vs. authentic branding strategies by focusing on a new context of major economic importance for brand marketers, China, as well as by testing the moderating effect of a to date not considered contingency: local vs. foreign brand origin perceptions (i.e., low vs. high perceived brand foreignness). Data was gathered through an online survey of non-student consumers based in China recruited through Qualtrics online survey panels (n=623). Tests of reliability, convergent and discriminant validity of the measurement models deliver overall satisfactory results. R2 and Q2 values demonstrate that the tested models show good explanatory power and predictive relevance of emotional brand attachment (R2 = 0.699 to 0.759; Q2 = 0.527 to 0.696). Results support H1, as authentic branding has a positive effect on emotional brand attachment (β = 0. 293, p < 0.001), thus adding support to the efficacy of authentic branding strategies across West and East. Results also support H2, as aspirational branding has a positive effect on emotional brand attachment (β =0.598, p < 0.001). These findings support recent evidence from the UK and USA (e.g., Japutra et al., 2017) yet are out of line with recent studies in Switzerland and India, which fail to support this link (e.g., Malär et al., 2011). Results support H3, as aspirational branding has as stronger effect on EBA than authentic branding (t = 4.603, p < 0.001). Our findings question recent evidence suggesting a generic superiority of authentic over aspirational branding (e.g., Japutra et al., 2017). Results support H4, as for brands perceived as local, the effect of aspirational branding on EBA is significantly stronger than that of authentic branding (t= 4.125, p < 0.001). Thus, results support the notion that brands low on social signalling value, i.e., those perceived as local, can develop stronger attachment with consumers when they employ aspirational strategies. Finally, results do not support H5, as the data shows that for brands perceived as foreign, aspirational branding (β = 0.536, p < 0.001) still has a significantly stronger effect (t= 2.123, p < 0.05) on EBA than authentic branding (β =0.339, p < 0.001). In other words, brands perceived as foreign can still benefit from conveying aspiration over authenticity.

With the rapid development of network economy and information technology, customers through the internet platform to participate in product development and innovation, dominant the spread of value proposition engagement spread, etc., has become an important part of the creation of customer assets, as well as a profound change in brand management. This paper constructs a model of how the brand experience affects customer assets in the virtual branding community under the perspective of value co-creation, analysis the impact of value co-creation of customer participation (sponsored value co-creation and autonomous value co-creation), the motivation of value co-creation on brand experience, and then on customer assets. This paper also explores the regulatory effect of value proposition engagement in brand experience and customer asset. This study will use the involvement theory and the theory of stimulus-response for empirical research, and through the questionnaire survey of consumers, using SPSS20.0 and AMOS20.0 statistical software on the relevance of relevant variables to grasp, and carries on the analysis using structural equation model. The research of this paper will enrich the exposition and explanation of building a brand experience better through value co-creation in virtual brand community, and provide theoretical support and practical advice for the implementation and management of customer assets.

The purpose of this study is to assess the role of marketing to the area of strategic alliances. We suggest that marketing capability – the ability to deploy resources to serve customers better- is a key determinant that facilitates value creation in strategic alliances. Specifically, we investigate the interaction effects of marketing capability on performance of strategic alliance experience and types of strategic alliances (introducing three types: SI-SF alliance, AI-SF alliance and AI-DF alliance), and whether these interaction effects are moderated by high vs. low technological industry. This study analyzed the panel data from 39 international firms and their 2,158 alliances during the period 1994 - 2014, 21 firms from computer industry (high-tech industry) and 18 firms from food industry (low-tech industry), respectively. The results indicate that the contribution of marketing capability on the relationships between alliance experience, types of strategic alliances and firm value varies with environmental contexts. First, when a firm has strong marketing capability, the effect of strategic alliance experience on firm value is greater than those of firms with low marketing capability. Also, the strength of its interaction effect is lower in high-tech industry than low-tech industry. Second, when a firm has strong marketing capability, the effects of three different types of strategic alliances on firm value are greater than those of firms with low marketing capability. However, their interaction effects to firm value were significant only in high-tech industry. Specifically, when a firm has strong marketing capability, the stock market reacts most favorably to the AI-DF alliance than those of SI-SF alliance and AI-SF alliance in high-tech industry. In contrast, even a firm has strong marketing capability, the stock market reacts favorably only to AI-SF alliance in low-tech industry. In sum, our research suggests that the interactive performance impact of marketing capability to the strategic alliance experience and the types of strategic alliances can be obtained in particular environmental contexts.

Introduction Luxury industry, in addition to feelings, started to provide reasons for consumers to justify their consumption. Also, it helps them to avoid social risks by offering inconspicuous luxury products. For example, ‘Mandarin Oriental Barcelona’ suggests luxury holiday package for people running Barcelona marathon, London cocktail bar ‘Bart’ serves cocktails designed to 'facilitate focus and encourage relaxation', ‘Tiffany’ has dropped the spelled-out brand name from its fashion jewelry line in favor of simple “T”. (Trend watching 2017) Then, what changed consumers' interest? Interestingly, the current expectations of luxury consumers have a lot in common with the features of interdependent self-construal. The "we" effect of social media can explain this trend. Literature review and Conceptual framework Social Media usage and Interdependent Self-Construal Although earlier research in cultural psychology conceptualized self-construal as culturally determined (Markus and Kitayama 1991), more recent research suggests that independent and interdependent self-construal can also be made temporarily accessible. The most frequently adopted priming procedure to induce self-construal is the procedure by stories about we or I. (Gardner, Gabriel, and Lee 1999; Mandel 2003; Krishna, Zhou, and Zhang 2008; Hong and Chang 2015). We suggest that Social media usage can induce interdependent self-construal because social media users read stories and watch videos of others. Prior findings indicated that participants in interdependent self-construal condition have an equivalent number of thoughts about themselves and others. (Lee, Aaker, and Gardner 2000). Social Media, Interdependent Self-construal, and Consumers’ Luxury Value Perception Consumers’ perceptions of luxury value appear to be determined mainly by Functional, Individual, and Social aspects (Wiedmann, Hennigs, and Siebels 2009). Recent luxury marketing researchers compare conspicuous consumption and inconspicuous consumption, two types of social aspect consumption (Han, Nunes, and Dreze 2010; Eckhardt, Belk, and Wilson 2015). They are interested in Functional luxury value, added to Individual luxury value because small utilitarian additions to a hedonic luxury are often valued more than their stand-alone value (Keinan, Kivetz, & Netzer 2016). These two trends seem to have nothing in common. But when the concept of self-construal is adopted, they have something in common. Namely, interdependent selves, which focuses on others, are the one who cares about both inconspicuousness and utilitarian aspects. We suggest that because of the features of interdependent self-construal, consumers more using social media tend to have a different priority regarding luxury value perception than consumers less exposed to social media. We explore the mediating role of relational interdependent self-construal in this model (Triandis 1989; Cross, Bacon, and Morris 2000). Also, luxury brand company’s social media marketing efforts (Kim and Ko 2012; Godey et al. 2016) have different features. We expected that each social media marketing activity has a different impact on luxury value perception. Interdependent Self-Construal, Reason, Functional luxury value We propose that because of interdependence priming effect of social media, participants who are exposed to social media (social media priming group) tend to rely on both reason and feeling, which in turn set an equivalent value on Functional luxury value (cognitively superior) and Individual luxury value (affectively superior) (Hong and Chang 2015). Interdependent Self-Construal, Social Risk, Inconspicuousness The authors propose that because of interdependence priming effect of social media, participants who are exposed to social media (social media priming group) tend to avoid social risk than participants who are not exposed to social media (no priming group). Study 1: The effect of social media on the balance between self and others. A total of 709 respondents (389 females) participated in this study via Amazon Mechanical Turk (MTurk) They were randomly assigned to one of the two conditions (with social media manipulation vs. No manipulation) The impact of ‘one-time social media use’ Following the previous study (Hong and Chung 2015), we conducted a 2 (social media manipulation: No vs. Yes) x 2 (thought type: self vs other) mixed ANOVA with social media manipulation as a between-subject factor and thought type as a repeated measure. The main effect of thought type is significant (F(1,707) =293.54, p<.000). However, the interaction between social media manipulation and thought type was not significant. (F (1,707) = 0.128, p<.721). So, the result shows that one-time social media use doesn’t manipulate interdependent self-construal. The impacts of ‘chronic social media use’. To check whether chronic social media use can manipulate interdependent self-construal, we conducted a 2 (time spent on social media: Low vs. High) x 2 (thought type: self vs. other) mixed ANOVA. The main effect of thought type is significant (F(1,707) =293.81, p<.000). The interaction between time spent on social media and thought type was significant. (F (1,703) = 6.65, p<.000). Also, we conducted a 2 (communication on social media: Low vs. High) x 2 (thought type: self vs. other) mixed ANOVA. The main effect of thought type is significant (F(1,707) =300.76, p<.000). The interaction between communication and thought type was significant. (F (1,704) = 5.764, p<.000). So, the result shows that chronic social media use manipulates interdependent self-construal. Also, we computed three types of groups, the others-dominant, the balanced, and the self-dominant by modifying past research (Kitayama et al. 2009; Wu, Cutright, and Fitzsimos 2011, Hong and Chang2015). A chi-square test revealed that participants who spent more time and had more communication on social media had more balanced thought type (32.6%, 31.0%) than participants who spent less time and had less communication on social media (24.8%, 24.0%) Study 2: The effect of using social media on luxury value perceptions (SEM) A total of 255 respondents (85 females) participated in this study through Amazon Mechanical Turk (MTurk). The participants were between 18 and 65 years old and lived in the U.S., and the modal age group was 25-34 (43.9 %), followed by 35-44 (25.5%). We conducted exploratory factor analysis (EFA) using maximum likelihood estimation with Promax rotation. The goodness of fit statistics is: 𝒙𝟐=707.14, df =377, P<0.0005, 𝒙𝟐/df =1.876, CFI=0.95, and RMSEA =0.059. The final CFA model fits well with the data (Hu and Bentler, 1999; Hair et al., 2010). After confirming the measurement model, SEM with maximum likelihood extraction was estimated to test Hypothesis. The goodness of fit criteria of the model meets the proposed thresholds in previous studies: 𝒙𝟐=677.97, df =374, P<0.0005, 𝒙𝟐/df =1.813, CFI=0.95, and RMSEA =0.057 (Hu and Bentler, 1999; Hair et al., 2010). The SEM model showed each social media activity has a different effect on each luxury value. Interaction positively impacts the functional luxury value (β=0.38, p<.000) but negatively impacts the individual (β= - 0.27, p<.000) and social luxury value (β= - 0.34, p<.000). Entertainment/WOM has a positive effect on individual luxury value (β=0.39, p<.000) and on social luxury value (β=0.32, p<.000). Customization positively impacts the social luxury value (β=0.26, p<.000). We could also find Entertainment/WOM and Customization did not influence the functional luxury value. Only Entertainment/WOM positively impacts relational interdependent self-construal (β=0.32, p<.000) Relational interdependent self-construal positively impacts on individual value (β=0.24, p<.000) and social value (β=0.27, p<.000). We conducted a mediation analysis. Among social media activities, only Entertainment/WOM had a significant positive effect on Relational Interdependent Self-Construal. Study 3: the effect of social media on self-construal and choice between functional value and individual value superior options 454 Responses (304 females) collected via Mturk to stimulate the environment of social media. Respondents are primed on interdependence by social media usage while control group respondents are not primed. The authors checked the validity of the self-construal manipulation effect of social media. Respondents were given a choice task, designed by adopting previous method (Hong and Chang 2015). They were told to imagine that they were going to buy a hand bag. Handbag X is superior on functional (cognitive) dimensions whereas handbag Y is superior on all individual (affective) dimensions. Participants are asked to indicate their choice between two Handbags Choice. A chi-square test revealed that the effect of social media manipulation is not significant on the handbag choice (𝑥2(l) 0.371, p<.309). However, the effect of interdependent self-construal on the participant's’ handbag choice was significant (𝑥2(l) 5.85, p<0.01). As predicted, participants with a higher Interdependent self-construal primed by social media have a smaller preference gap between Functional luxury value and Individual luxury value (F:73.2%-I:26.8%=46.4%), than participants with lower Interdependent self-construal participants (F:82.7%-I:17.3%=65.4%) Study3 supports the results of previous two studies. As individuals communicate more and spend more time on social media, they are more likely to prefer equally for Functional luxury value and Individual luxury. Study 4: the effect of social media on self-construal and choice between conspicuous and inconspicuous options. After the self-construal manipulation with social media, respondents were given a choice task. The choice was designed by adopting previous method (Han, Nunes, and Dreze 2010). Respondents were told to imagine that they were going to buy a handbag. One option has an inconspicuous design whereas the other option is conspicuous design. Participants are asked to indicate their choice between two handbags. Social media manipulation and Handbags Choice. All three chi-square tests revealed a significant or marginal effect of social media manipulation on participants handbag choice with the same pattern. ( 𝑥2(1) = 6.328, p > .032; 𝑥2(1) = 3.086, p > .079; 𝑥2(1) = 1.933, p > .098) As predicted, participants in social media manipulation group prefer the inconspicuous option to the conspicuous option (59.3%>40.7%; 58.9%>41.1%; 60.4%>39.6%) than participants in control group (47.3%, 52.7%; 50.5%, 49.5%, 53.8%, 46.2%). Interdependent-self construal and Handbags Choice. All three chi-square tests revealed a significant effect of interdependent self-construal on participants handbag choice with the same pattern. ( 𝑥2(1) = 4.2, p > .047; 𝑥2(1) = 4.79, p > .029; 𝑥2(1) = 6.11, p > .013) As predicted, participants with higher Interdependent self-construal primed by social media have a equivalent preference about the inconspicuous option and conspicuous option (50%, 50%; 50.8%, 49.2%; 52.4%, 47.6%) than participants with lower Interdependent self-construal(59.6%, 40.4%; 61.1%, 38.9%, 63.9%, 36.1%). Study4 shows that one-time social media exposure can reduce conspicuous consumption. However, as individuals communicate more and spend more time on social media, they become more likely to prefer equally for conspicuous option and inconspicuous option. Contribution In luxury brand marketing, this study sheds light on the balance between two motivations, luxury for self and luxury for others (Kapferer, Jean-Noël, and Vincent 2009) using the concept of self-construal. This research also contributes to the literature on consumers’ luxury value perception (Hennigs et al. 2012; Wiedmann et al. 2009). In general marketing subjects, it adds to the increasing literature on consumer risk and choices between affective and cognitive options. For the luxury brand industry, this study can give marketers a practical idea about choosing social media marketing activities and designing new products. For example, if luxury brand companies promote customers posting opinions on websites, they should know that their activities might advertently affect their sales because interaction negatively influences on individual and social luxury value.

Celebrity endorsement is defined as an agreement between a publicly recognized celebrity and an entity to use the celebrity’s fame to promote a brand or product. Generally, a celebrity is defined as a famous singer, actor, or athlete who frequently appears in public. The celebrity uses his/her public recognition to persuade consumers to purchase a specific product by the endorsement, and the celebrity accepts remunerations from the firm. Celebrity endorsement has been prevalent as an advertising strategy and many advertisers invest enormous amount of money for the celebrity endorsement. Prior research has examined the economic benefits or effectiveness of celebrity endorsement and found that celebrity endorsement attracts attention from consumers and polishes a tarnished brand image, and the celebrity may help advertisements stand out, thus improving their communicative ability. Apart from a general celebrity endorsement advantage, previous studies have found the factors that affect the success or failure of celebrity endorsement. An attractive celebrity can positively influence advertising evaluation, and a celebrity with expertise can increase consumers’ purchase intention through product. In addition, consumers prefer a product endorsed by a highly trustworthy celebrity. Specifically, on the economic worth of celebrity endorsement, most studies have indicated a positive effect. An announcement of a celebrity endorsement contract can bring a positive abnormal benefit to a firm’s stock price. Celebrity endorsement also helps increase the intangible value of a firm, which is the source of competitive edge and sustainable growth. However, despite recent interest in the return on advertising investment, it is not known how and which source factor of the celebrity endorsement can be explained with the firm value. By using text mining and sentiment analysis, the results of this study explain that the sustainable firm value is impacted by various sources of celebrity endorsement. First, the number of words regarding celebrity attractiveness, expertise, and trustworthiness has an impact on the sustainable firm value. Among the three sources, trustworthiness has the biggest impact on the sustainable firm value, which is Tobin’s Q. Second, regarding attractiveness and expertise, increasing proportion of positive words has impact on the firm value. On the other hand, regarding trustworthiness, the number of negative words on occupational issues is important. Third, different celebrity expertise has different impact on the sustainable firm value depending on the degree of job uniqueness and replaceability. Fourth, once the celebrity has lost his/her trustworthiness, the negative impact is hardly recovered as the negative interaction effect between positive impact of celebrity expertise on the sustainable firm value and the loss of trustworthiness is over seven times higher than the positive effects from the expertise. This implies that if an advertiser carefully manages other effects except for the loss of trustworthiness, he/she cannot offset the failure.

To date, in various methodological and theoretical domains, consumer value has been investigated to provide a comprehensive analytical framework that encompasses the full range of consumption-related phenomena. Consumer value is regarded as an important marketing concept since it deals with an issue closely related to the product positioning and competitive advantages (Woodruff, 1997). In the current marketplace, brands have often collaborated with retailers to extend their products and gain a competitive advantage in positioning the products effectively in the targeted market. Therefore, it is important for brands to understand how consumers perceive extended products when they are sold in retail stores so that they can locate the perceived position closer to the ideal point of a target segment. Thus, this study aims to examine measurement invariance in measures of consumers’ perceived value and its effect on prediction to allow researchers to compare predictions across groups. Drawn from a theory of consumption values (Sheth, Newman, & Gross, 1991) and related literatures, this study considered perceived value as a multidimensional construct as well as the expected outcome of an evaluative judgment. Likert-type items with seven-points were used for measuring four latent factors including social value, monetary value, convenience value, and epistemic value. Using a total of 869 data from participants in the U.S., multigroup confirmatory factor analysis was performed to examine measurement invariance of consumers’ perceived value for two groups using different types of brand and retailer collaborations. The high-end brand and low-end retailer group had 444 participants, and the low-end brand and high-end retailer group had 425 participants. Based on the sequential testing procedure, the current study confirmed the consistent structure of the measurement instrument of consumers’ perceived value across groups. However, the factorial invariance of monetary value could not be established. The findings of this study contribute to providing insights on the methodological perspective by investigating whether or not the measurements of consumers’ perceived value yield measures of the same qualities in different shopping contexts.

Introduction Recently global luxury brands have put their effort into strengthening their businesses online. This can be seen as an effort to overcome their stagnant growth by focusing on steeply increasing online markets as their target. In the midst of global recession, online luxury brands have continued to show rapid growth each year. Bain & Company (2017) has forecasted offline growth of global luxury brands at the annual average growth of 2~3% by 2020 while the online markets would show the average growth of 15% annually by 2020. Moreover, due to the expansion of importers with official copyright to the online sales and stabilization of e-payment system, online markets have gained consumer trust leading to the increased rate of consumers purchasing luxury brand online more. McKinsey Consulting (2017) has forecasted online sales of luxury brand would reach up to 28% of the total sales by 2025. Reflecting such expectations, luxury brands are in the process of proposing multiple channels of online sales and communicating through Social Network Service (SNS) marketing as their core strategies. As consumer usage of SNS, such as Facebook, tweeter, or Instagram, have increased, so the value of consumer toward luxury brands has changed. Since the introduction of the standing characteristic of social media-communication to the luxury brand market, the luxury brands not only became a privilege of the high minority group but also became available for anyone to easily purchase with absolute information availability of price, quality, location, etc. Theoretical Development Consumers are using social media sites to search for information and deviating from traditional media (e.g., television, radio, and magazines) (Mangold and Faulds 2009). The emergence of social media has changed communication method from one-way communication to multi-dimensional, two-way, peer-to-peer communication (Berthon, Pitt, and Campbell 2008). Social media platforms offer a chance for brand to familiarized interact with consumers. Also, consumer can be interacted with another consumer through social media. The most important factor for luxury brands to establish an online business strategy is communication with their consumers. Luxury brands that are most accustomed to communicating with their limited consumers in their offline stores providing high quality services, it is inevitable for them to fear the lack of face-to-face interaction with their consumers in online markets. Social media began to serve the luxury brands as the alternative communication channel within the online markets. Moreover, social media has proven effective in drawing consumer’s voluntary Word of Mouth(WOM) since social media interaction is important motivation for consumer to creating user-generated contents (Daugherty al., 2008). The social media provides the consumers with a platform to meet and communicate with others with similar interests in specific brand goods and services that makes target marketing easier than before (Muntinga et al., 2011). Furthermore, the social media platforms provide the consumers with restriction-free comments on a certain brand to other interested parties, the users voluntarily taking the role of eWOM (Kim & Ko, 2012; Vollmer & Precourt, 2008). Luxury brands also seek to take this advantage of social media. The extent of spreading word of mouth is at the most viral through social media platforms, influencing the consumer’s purchasing behaviors to a great extent as proven in many previous researches (Lau and Ng 2001; Nabi and Hendriks 2003). Thus, the purpose of this study is to examine the impact of the consumer’s multidimensional value towards luxury brands on social media WOM intention and purchase intentions at the same time. Moreover, through extensive literature review with qualitative interview on consumers’ perceived value on luxury brand/product, consumer value dimensions on the luxury brands are categorized into six value factors (e.g. conspicuous value, status value, materialistic value, hedonic value, uniqueness seeking value, price-quality perceptions). Research Design The study conducted a thorough literature review and focus group interview to develop a comprehensive model of understanding the importance and dimensionality of customer value on luxury brand. After analyzing qualitative data on consumer value perception on luxury brands/product, online survey was performed using a customer sample in the United States. A web-based online survey was conducted using an online research panel service. After filtering and cleaning data collected, a final usable sample of 287 were analyzed to test hypothesized model. Measures for luxury brand on perceived values (including conspicuous value, status value, hedonic value, materialistic value, uniqueness seeking value, price-quality perceptions), social media word-of-mouth intention, and purchase intentions for luxury products were rated on a 7-point Likert scale ranging from strongly disagree to strongly agree. Result and Conclusion The result show that the relationship between conspicuous value, hedonic value, uniqueness and price-quality perceptions with social media WOM were found to be significant impact. However, social media WOM were not affected by status value and materialistic value of luxury brand. Conversely, status value and materialistic value had a considerable influence on purchase intention for luxury brand online. And social media word-of-mouth had a significant positive effect on consumer purchase intentions for luxury brand. In the era where digital importance is at its peak, the expansion of the luxury brands to online business has become requirements and not optional consequences. It is not easy for luxury brands with their unique styles and identity, as well as high brand awareness to settle in an online market where variety of lifestyles and cultures coexist. For this reason, the study on the multidimensional consumer value on luxury brands holds its contribution to the academia and industry practitioners. This study empirically examines the influence of consumers’ perceived multidimensional value on the luxury brands to WOM and purchase intentions through social media. This paper has revealed that the consumer’s WOM intention on luxury goods does not necessarily correlate with the purchase intention. However, the consumer who has developed WOM intention through social media has shown to possess positive influence on the purchase intention. This results also indicated the importance of the exposure of the unique luxury brand image by the luxury brand managers to the social media in order to generate voluntary consumer WOM. Furthermore, in order to increase their social status, the necessity of online consumer community for sharing their special experiences is ever more present. Such online consumer community would serve to expand the communication channel between the brand and the consumers, thus leading to increase intimacy between two parties. The study was carried out to the American consumers; following study should be carried out to Chinese consumers or developing countries where luxury brands are exposed to the rapidly growing luxury brand markets. Moreover, an in-depth study on strengthening effective marketing strategy by segmenting consumer value on luxury brands should be conducted consequently.

The service setting is more than ever dynamic. Customers’ engagement is changing due to the multiple interactions at different levels of the consumption experience journey. The customer as an active and engaged value co-creator raises new challenges to theory and practice. However, the connection between engagement and co-creation is scarce in the literature. The experience of the active hotel customer occurs through customer engagement with internal actors and factors from prepurchase through to post-purchase. Since value co-creation results from the engagement of multiple factors and actors (f/actors) in the process, it is essential to understand the actors’ activities that promote or obstruct this process. This paper proposes a connection between customer engagement (CE) and value co-creation framework to ascertain and depict the internal actors’ activities and factors that foster or hinder customers’ experience in the hotel industry. The researchers used qualitative methods (35 in-depth interviews, document analysis and 4 observation sessions) in seven regions in Ghana to explore the customer’s perspective. Data was analysed with Nvivo11, within a thematic analysis framework. Findings suggest that customer’s engagement within the hotel environment with multiple actors has an influence on customer value co-creation/destruction process. It found that positive and negative engagement fosters/hinders guests’ interactions which lead to value cocreation/ destruction. The research also discovered that negative interactions occasioned by any factor/actor triggers value destruction at multiple stages of the experience journey. The study suggests theoretical and managerial implications focused on the actors’ practices that foster or hinder customer engagement and value co-creation.

Value creation is essential for successfully operating a firm and becomes a critical issue for realizing cross-firm competition and industrial performance distinctions. Tourism scholars have viewed tourism value-chain (TVC) as a useful tool to measure the efficiency and effectiveness of performance through controlling the impact factors in tourism products and services. However, few extant studies focus on the works of performance measurement in the tourism industry. This study applies Yilmaz and Bititci’s (2006 a, b) concept to develop novel performance measurement and value creation indicators for industrial tourism and customers through a crisp-set qualitative comparative analysis (QCA). The QCA approach considers asymmetric relationships—reporting conditions that are sufficient or necessary to cause an outcome condition. QCA allows exploring the causal-effect relationship between the variables. In-depth interview with five senior managers and five customers were conducted. The QCA results showed that industrial tourism and customer performance indicators have complex links with value creation. The main theoretical contributions of this study extends through four stages of TVC on both manufacturing and industrial tourism, developing causal-effect connections of industrial tourism, and customer performance on value creation. The study describes how proprietors and service providers promoted brand identification and firm’s reputation for achieving industrial tourism value. The findings beneficially provide practical implications for proprietors and customers for applying performance indicators once aiming to develop an appropriate marketing strategy and create industrial tourism and customer values.

The current study aimed to segment Mongolian female consumers based on luxury consumption values and to compare lifestyle, demographic characteristics, purchase behavior, and perceived brand personality among the segments. The survey was administered to consumers who had purchased luxury products in Ulaanbaatar, Mongolia. A total of 184 surveys were used for data analysis. Exploratory factor analysis revealed five luxury values: quality value, hedonic value, conspicuous value, social value, and unique value. Using the five luxury values, clustering analysis was conducted, showing that there were four distinct segments: passive shoppers, showoffs, rational value groups, and hedonists. ANOVAs and chi-square analyses revealed that these four segments differed in consumption values, demographic characteristics, lifestyle dimensions (including appearance consciousness, leisure orientation, life enjoyment, and achievement orientation), and purchase behavior (including purchase frequency, price of products purchased, and product selection criteria). Moreover, value segments showed differences in five dimensions of luxury brand personality: sincerity, professionalism/attractiveness, excitement, materialism, and sophistication. The results suggest that consumption values serve as a significant basis for segmentation. Furthermore, the current study indicates that value segments can be described as consumers’ perceived brand personality. The study concludes with a discussion of the results, theoretical and practical implications, and limitations.