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 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.

This study examines whether or not the national technical qualification provides value to the examinee despite the environmental change through the KANO's dual questionnaire method for applicants who apply for the national technical qualification. So, We analyze the three functions of qualification and the incentive function, which is the characteristic of customer value, and evaluate what is the shortest part of the value of the qualification that the current customer feels and present the improvement plan. In general, the survey method has structural analysis and probabilistic analysis on the process and the result, but it does not exclude the convenience of the questionnaire itself. This study aims to demonstrate the difference between the results of the survey and the results of general surveys based on the potential weight of the subjects. Eventually, Many examinee speak to the national technical qualification non-value but Why they takes the national technical qualification? How change the Methods or theory of the national Qualification?. We would find to way for an accurate method and direction for the development of national qualification

This study aims to examine how the mobile social network service experience affects value co-creation and customer lifetime value. The mobile social network service experience includes mobile convenience, social compatibility, social risk, and cognitive effort. The research hypotheses with structural equation modeling are tested. In mobile SNS context, value co-creation behaviors essentially determine customer lifetime value of mobile shopping apps. Value co-creation behaviors have received little attention in mobile shopping. The mobile SNS experience strongly influences value co-creation behaviors. This study is based on a sample of mobile SNS users nationwide in Korea. Therefore, the generalizability of the findings has to be tested. Furthermore, the study examines customer lifetime value, which is good sales predictor of mobile shopping apps. Moreover, the research model included the positive and negative determinants on mobile SNS experience. Future researches examine other use intentions of mobile SNS. Value co-creation behaviors substantially affect customer lifetime value. Mobile shopping apps should increase customer lifetime value from mobile SNS experience and value co-creation. This study shows how individual mobile SNS user provides mobile shopping apps with profit through value co-creation. This study is the first to examine how mobile SNS users enhance value co-creation and how value cocreation behaviors affect customer lifetime value of mobile SNS users.

In contemporary society, the severity of social problems, such as environment pollution, is gradually raising people’s awareness towards sustainability (Gleim, Smith, Andrews, & Cronin, 2013). The fashion industry’s interest in sustainability is growing. However, consumers have neither sufficient knowledge or, nor faith in, sustainable fashion, and often question the reasons to pursue sustainability (Skov, 2009). The success of sustainable fashion depends on effective branding and marketing communications strategies designed to enhance consumers' knowledge, benefit and value perception. Providing consumers with the benefits of new products is an effective way of communicating (Lee & Colarelli O'Connor, 2003). Knowledge is an important variable affecting consumers ' perceived benefits (Haas & Hansen, 2007). Consumers’ values, attitude, and knowledge also affect their environment awareness and actions (Laroche, Bergeron, & Barbaro-Forleo, 2001). According to a previous study, environmental knowledge plays an important role in consumer behavior (Tilikidou, 2006). Consumers perceive various kinds of value according to their knowledge (Haas & Hansen, 2007; Hartmann & Apaolaza-Ibáñez, 2012). Therefore, it is crucial to create awareness of the effect of consumer behaviors on the environment (Cegarra-Navarro, Cordoba-Pachon, & Fernandez de Bobadilla, 2009). Many studies have highlighted the leading factors influencing sustainable behavior (Cervellon & Wernerfelt, 2012). However, there a dearth of research on how sustainable knowledge influences perceived benefit, perceived value and behavior Thus, the purpose of the present research is as follows: (1) to identify the effects of sustainable fashion knowledge on perceived benefit and perceived risk, (2) to investigate how perceived benefit and perceived risk influence perceived value, and (3) to investigate perceived value’s influence on purchase intention and knowledge sharing intention. Sustainable fashion education, nationality, and uncertainty avoidance, will have a moderating effects on relationships among sustainable fashion knowledge, perceived benefit, perceived risk, perceived value, purchase intention, and knowledge sharing intention. Four hundred fifty samples were collected to measure sustainable fashion knowledge, perceived benefit, perceived risk, perceived value, purchase intention, knowledge sharing intention, uncertainty avoidance, and demographic variables. Data analysis was performed using SPSS 18.0 for descriptive statistics and exploratory factor analysis, and AMOS 18.0 for confirmatory factor analysis (CFA), validity test and multiple group analysis on the results. A measurement model was then estimated by examining the results of the CFA. The main results of this research are as follows: (1) sustainable fashion knowledge has a positive influence on perceived benefit and perceived risk, (2) perceived benefit and perceived risk have a positive influence on perceived value, (3) perceived value has a positive influence on purchase intention and knowledge sharing intention, and (4) there was a difference in the relationship between variables according to the consumer groups (education, nationality, uncertainty avoidance tendency). This study is meaningful for taking an in-depth look at the influence of customers’ perceived value, based on their level of sustainable knowledge, on consumer behavior and on knowledge sharing related to sustainable fashion. In terms of practical applications, this study can provide in-depth and empirically-supported online education and a brand marketing strategies regarding an actual sustainable fashion brand.

The main objective of this study is to compare the difference of consumers’ perception on brand context. The focal factors are brand equity, brand personality and perceived customer value. This would enhance the knowledge of cross-cultural brand equity and brand personality, especially in Fast-Fashion industry. In addition, the findings of this study show that, for a brand in different marketing context, how customers perceive the brand and contribute it to their value. The sample size of 800 consumers is applied (400 Japanese consumers and 400 Thai consumers. The focal brand is randomly selected by the researcher. The Structural Equation Modelling with multiple group analysis would be conducted for examining the differences of consumer perception on a Fast-Fashion brand. All major model fits indicator would be evaluated. Finally, the results of the study would be discussed.

The purpose of this study is to investigate the interrelationships among customer perceived value, customer satisfaction, and switching costs as antecedents of customer loyalty in business-to-business (B2B) contexts. Customer loyalty influences firms’ performance as a key source of competitive advantage. Customer loyalty is essential in B2B contexts, although many studies of customer loyalty have focused on the business-to-consumer (B2C) context. Recently, the use of robotics in the industrial marketing environment has become increasingly prevalent. Given the prevalence of robotics in B2B contexts and the importance of customer loyalty, this study investigates the impacts of robotics in industrial marketing relationships, customer perceived value, customer satisfaction, and switching costs on enhancing customer loyalty.

This study (i) examines the main effect of how a customer’s trust in the service personnel could affect his/her service co-designing and co-delivering behavior; and (ii) investigates how the main effect could vary by the customer’s trust in the service brand, and the types of customer contact service contexts. Keywords: customer participation, co-

Supply and demand patterns have dynamically changed in recent years due to the increased global competition. Firms have selected quality and price as competition components and have accomplished corporate innovation in order to achieve competitive advantage. Innovation has been recognized as the way to enhance corporate competitiveness and to continuously grow in churning global competition (Homburg, Schwemmle, & Kuehnl, 2015; Moon, Miller, & Kim, 2013). Although innovation becomes a common means to improve a firm’s performance, it has the limitation of achieving a firm’s strategic goal as a long-term strategy. Thus, firms need to have more fine-grained strategies to survive in dynamically changing business environment, such as design innovation (Moon et al., 2015). For example, Apple has produced its products (e.g., iPhone, iPod and iPad) focusing on innovative product design to influence consumer purchase intention. Design can lead to a distinct competitive advantage (Bolch, 1995). Furthermore, product design can be used by firms to create amd enhance brand recognition, as well as to increase firms’ value (Mozota, 2002). Brand experience positively influences customer satisfaction and brand loyalty (Brakus, Schmitt, & Zarantonello, 2009). Thus, we assume that design experience and product innovation have a positive effect on consumers’ purchase behavior and customer value. However, while the importance of design innovation is recognized, it is not easy to apply the design innovation to marketing due to the lack of relevant research in the field. In fact, relevant research on the influence of innovative new product design and design experience on customer value is scarce. Therefore, the purpose of this study is to investigate how brand experiences and innovative product design affect customer value. Successful innovation is accomplished by identifying customer needs first and developing innovative products to satisfy their needs (Hauser et al., 2006). Design is seen as the core of innovation and the moment when a new object is conceived of, devised, and shaped in a prototype form (Landwehr, Wentzel, & Herrmann, 2013). Verganti (2008) studies the concept of "user-centered design," which describes how companies can use design to improve their relationships with users and develop a better understanding of user needs. In this research, design innovation has three dimensions: aesthetic attributes, feature attributes, and emotional attributes. First, aesthetic attributes focus on the product design itself. The aesthetic appearance of a product has a large bearing on its potential market share (Liu, 2003). Second, feature attributes focus on the product features and functional aspects that are required to satisfy customer needs. Feature attributes enable performance that can give results in the operating process (Crawford & Di Benedetto, 2007). Third, emotional attributes focus on consumers’ feeling when they purchase a new product to satisfy their needs. Emotional attributes are generated by consumers’ experience when they purchase a new product in the store. The more the product design satisfies customer's emotional needs, the more customers’ attention is attracted to the purchase of a product (Mokarian, 2007). A product satisfying the aesthetic, feature, and emotional attributes through design innovation provides a new experience to customers (Desmet & Hekkert, 2007). A consumer’s purchase decision making is affected by both direct and indirect experience of using the product and the function of product (Brakus, Schmitt, & Zarantonello, 2009). Therefore, a designer comes to design the product, taking an interest in the experience that the product gives besides its shape and function. Product experiences occur when a customer interacts with the product ̶ for example, when customers search for, examine, and evaluate products (Hoch, 2002). The product experience can be direct, i.e. when there is physical contact with the product (Hoch & Ha 1986) or indirect, i.e. when a product is presented virtually or in an advertisement (Hoch & Ha 1986; Kempf and Smith 1998). Brand experience can be split into four dimensions (sensory, affective, intellectual, and behavioral), which are differentially evoked by various brands (Brakus, Schmitt, & Zarantonello, 2009). According to previous studies, these four experience dimensions (sensory, affective, intellectual, and behavioral experience dimensions) have an effect on customer satisfaction and customer loyalty. Customer value can be defined as the trade-off between the benefits and sacrifices as a customer purchases a product or service from a supplier (Ulaga & Chacour, 2001). Ulaga and Chacour presented three dimensions of customer value: product-related components, service-related components, and promotion-related components. The researchers argued that customer value could be an important strategic marketing tool to clarify a firm's proposition to customers. Product-related components are intrinsic product characteristics. Product quality is a key factor of relationship value (Ulaga, 2003). Customer value consists of product value and service value. Customer value can be enhanced by quality, diversity, payment, and service quality and decreased by price, convenience, and risk (Jarvenpaa & Todd, 2003). Service-related components include all aspects of service associated with the product. Various service components play an important role in differentiating a supplier's offering (Narus & Anderson, 1996). Promotion-related components include all items used to promote the product to the customer. For all purchasing processes, it is necessary to assess the perceived customer value, such as service quality and promotional quality (Qualls & Rosa, 1995). In the present study, we conducted a research survey with 300 subjects and analyzed the data. In order to test the reliability of questionnaire, Cronbach's alpha was used. In order to test the validity, an exploratory factor analysis was conducted. Measurement was made for 3 variables, i.e. design innovation, design experience, and customer value. Three variables (aesthetical attributes, feature attributes, and emotional attributes) were used for design innovation. Three types of attributes were introduced for a mobile phone design innovation. Four dimensions (sensory, affective, intellectual, behavioral) were measured using a technical design experience and a humanistic design experience. Three variables (product-related customer value, service-related customer value, and promotion-related customer value) were employed for customer value. The results of the analyses demonstrate that design innovation has a positive effect on design experience, while design experience has a positive effect on customer value. Aesthetic attributes of design innovation have a positive effect on technical design experience and humanistic design experience. Feature attributes have a positive effect on the technical design experience and the humanistic design experience. Emotional attributes have an effect on the technical design experience and the humanistic design experience. The technical design experience has a positive effect on product-related customer value, service-related customer value, and promotion-related customer value. The humanistic design experience has a positive effect on product-related customer value, service-related customer value and promotion-related customer value. This study will make it possible to empirically examine how customer's experience in design innovation affects customer value. Our results will provide a theoretical foundation for examining a relationship between variables regarding how design innovation influences customer value through design experience. It is intended to give a direction as to the design innovation of firms by clarifying and presenting antecedent factors having an effect that design innovation produces on customer value. The results of the present study will inspire designers to design in consideration of design experience. Finally, our study will provide marketers with guidelines as to how design experience can influence customer satisfaction and loyalty.

The advent of smart shopping environments including innovative information technology, advanced delivery systems, and extended smart phone use has rapidly changed the shopping methods and activities of the consumers. They have chosen smart shopping with greater frequency, which minimizes the use of time, money, effort and energy to buy the right products and to gain shopping experiences such as hedonic and utilitarian feelings (Atkins and Kim, 2012). The concept of smart shopping is based on value co-creation which can be explained as the value from the outcome of interaction between firms and consumers (Grönroos, 2011, Vargo and Lusch, 2004). In the value co-creation process, smart shoppers are willing to perform customer participation behaviors such as information seeking, information sharing, responsible behavior, and personal interaction, and to show customer citizenship behaviors such as feedback, advocacy, helping, and tolerance (Yi and Gong 2013). In smart shopping, a consumer involves in shopping experiences through product purchases and while engaged via the shopping environments such as an elaborate store design, educational events, recreation, and entertainment (Fiore and Kim, 2007). These shopping experiences, which contain both hedonic and utilitarian value (Holbrook and Hirschman, 1982), are better explained by consumer processes, responses on the shopping environment, situation, and consumer characteristics (Fiore and Kim, 2007). The attributes of shopping experience are symbolic, hedonic, and aesthetic (Holbrook and Hirschman, 1982) and utilitarian and hedonic (Kim, Lee and Park, 2014). Smart shoppers who are involved with value co-creation obtain hedonic benefits with emotional, funny, and enjoyable feelings and along with utilitarian benefits such as rational, functional, task-related experiences (Holbrook and Hirschman, 1982). The value co-creation and the shopping experience lead to greater customer equity such as value equity, brand equity, and relationship equity (Lemon, Rust, and Zeithamal 2001). Based on previous literature review, the authors constructed the following hypotheses. First, smart shopping will have positive effects on value co-creation, the shopping experience, and customer equity. Second, the smart shopping will have positive effects on both value co-creation and the shopping experience. Third, value cocreation will have positive effects on the shopping experience. Fourth, value cocreation and the shopping experience will have positive effects on customer equity. The authors collected the data based on questionnaires from mobile smart shoppers. The SPSS 20 and AMOS 20 statistical programs will be used for the data analysis. The analysis found the positive influence that smart shopping has on value co-creation and the shopping experience, and customer equity. This is the first study that shows these relationships from an empirical point-of-view. The findings of the study have useful managerial implications on the effects of value co-creation on both smart shoppers and firms. Value co-creation will provide smart shoppers with better product or service quality and enhance firms with more valuable customer equity. The greater shopping experience is the greater customer equity that will be developed. Value co-creation also will give firms a strong competitive advantage in terms of an organization’s learning, brand perception, reduced risk, improvement of customer relationships, and lowering cost for marketing, and research and development. The study has limitations. First, other potential variables of the value co-creation influencing new service development, customer loyalty, and customer satisfaction etc, could be considered. Second, the length of the relationship between smart shoppers and the service provider in value co-creation process should be considered. Third, the study needs to be generalized to cross sectional research beyond smart shopping area. Finally, to examine the effects of value co-creation and the shopping experience on customer equity, future research could investigate how value co-creation and the shopping experience affect the objective financial performance of a firm.

This conceptual paper is motivated by personal industry experience from over 100 customer-purchasing decisions from the machine tooling industry. The insights suggest that the customer’s ability to pay (ATP) constitutes a key deal-breaker criterion for value-based decision making that up to date has been overlooked in research. Customers may be willing, but unable to pay for the offering with the highest perceived value, simply because they lack the financial resources. The traditional view on value-based marketing strategies proposes that firms must provide offerings that create value for their customers (premise 1: customer need perspective) and that the value created must be superior to competition (premise 2: competitor perspective) while generating profits (premise 3: firm’s perspective). Customers will estimate which offering provides superior value, and they will choose the offering that delivers the highest value. I introduce the customer’s ability to pay as an additional foundational premise suggesting that the firm’s offering must also be within the customer’s budget (premise 4: customer budget perspective). I propose that frontline employees must not only develop a high degree of customer need knowledge, but they must also build-up a high level of customer budget knowledge. I conclude by deriving operative and strategic management implications supported with empirical evidence from the Australian machine tooling industry.

목 적: 본 연구의 목적은 최근 시력검사와 조제가공, 그리고 제품의 차별화를 기반으로 다양한 형태의 안경원이 탄생하고 있는 경영환경에서 안경원의 관계효익과 경북지역 20대 대학생의 고객가치가 어떠한 관 계를 나타내는지를 확인하고자 하였다. 방 법: 본 연구는 안경원에서 안경테, 안경렌즈, C/L를 구입하였던 217명의 20대 대학생들을 대상으로 설문조사하고 그 데이터를 분석하였다. 데이터 분석은 SPSS 18.0 통계프로그램을 이용하여 빈도분석, 요인 분석, 회귀분석을 실시하여 안경원의 관계효익과 고객가치에 관한 연구 가설을 검증하였다. 결 과: 첫째, 관계효익 중 경제적효익이 가격가치에 긍정적인 영향을 미쳤다. 둘째, 관계효익의 네 요인, 즉 경제적효익, 고객화효익, 사회적효익, 심리적효익이 모두 품질가치에 미약하지만 긍정적인 영향을 미치 는 것으로 나타났다. 셋째, 관계효익 중 경제적효익이 사회적가치에 긍정적인 영향을 미치며, 넷째, 관계효 익 중 사회적효익이 감정적가치에 긍정적인 영향을 미치는 것으로 나타났다. 결 론: 본 연구에서는 안경원의 관계효익 중에서 경제적효익이 가격가치와 사회적가치에 중요한 역할을 하는 것과 관계효익의 네 요인이 고객의 품질가치에 약하지만 고르게 영향을 주는 것을 발견하였다. 또한 사 회적효익은 감정적가치에 영향을 미치므로 안경원 경영자는 고객에게 제공되는 경제적효익을 개발하는 노력 뿐만 아니라 안경원을 지속적으로 이용함으로써 획득하게 되는 사회적효익을 높이고 고객이 인식하는 다양 한 가치를 개발하기위한 노력을 기울여야 할 것이다.

Dongdaemun Fashion Town, a representative clothing wholesale and retail market in South Korea, is a traditional market that was formed in the 19th century in the late Chosun Dynasty. Since then, the market system has strengthened and, as of now, Dongdaemun Fashion Town can produce various products in batch production and is characterized by a quick market response (Jung, Choo, & Chung, 2007). Furthermore, all fashion-related functions are available, making Dongdaemun Fashion Town an industrial cluster where all related businesses and services are locally concentrated (Ko, Choo, Lee, Song, & Whang, 2013). These characteristics of Dongdaemun Fashion Town relieve market trade cost and build a unique production system. It is positioned as a central clothing wholesale and retail district with the function of a national wholesale market. This Dongdaemun Fashion Town system creates services that customers demand through cooperation, partnership, or outsourcing between various suppliers and various resources (Nam, Kim, Yim, Lee, & Jo, 2009). Thus, Dongdaemun Fashion Town is a system space composed of subordinate markets with unique taste functions; here, a systematic network between the suppliers is significant. It produces value co-creation through collaboration with suppliers. However, few previous studies have investigated co-value created through co-production or co-innovation from Dongdaemun Fashion Town. Also, the shift from product-centered thinking to the customer-centered thinking implies the need for an accompanying shift to the customer-based strategy. It also refers the necessity of strategy to improve customer equity (Rust, Lemon, & Zeithaml, 2004). Therefore, further study is needed on co-creation research to make cyclical growth of traditional market and customer equity. The structure of this study is as follows. First, the characteristics of the Dongdaemun Fashion Town’s co-production, co-innovation, and value co-creation are investigated and each of the subordinate aspects is investigated. Second, the influence of co-production, co-innovation, and value co-creation on customer equity driver is analyzed. Third, the moderating effects on the types of suppliers’ (wholesale/retail) influence relationship are analyzed. In total, 300 samples by wholesalers and retailers were collected for the final analysis. Data analysis was performed used SPSS 21.0 for exploratory factor analyses, reliability analysis, and descriptive statistics. Based on the results, AMOS 18.0 was used for confirmatory factor analysis and multiple group analysis. The results of this study provide an insight into the influence of Dongdaemun Fashion Town’s co-production, co-innovation, and value co-creation on customer equity by wholesalers and retailers. The study concludes with outlining future directions of research that can be used in the development of marketing strategies.

A fashion social platform is a system that leverages the power of social connectivity to enable individuals to interact, accumulate information and create social values in fashion marketing. Fashion social platform participants, through their collective intelligence, give social platforms essential competence to solve economic and social issues, gather social capital, and create customer value. This study highlights the critical value of fashion social platforms and explains the relationships between knowledge sharing, social capital, and sustainable customer value. They examine (1) the effects of social network properties on knowledge sharing in fashion social platforms, (2) the effects of knowledge sharing on social capital, and (3) the effects of social capital on customer value in fashion social platforms. In the context of social platforms, this study clarifies the concept of customer value, the role of knowledge sharing, and the relationships between social capital and customer value. The study constructs a theoretical model regarding fashion social platforms and sustainable customer value that offers possible implications for fashion marketing practitioners.

In this empirical study, an attempt is made to show how the Customer Lifetime Value (CLV) can be computed by modeling multiple components of the customer and firm behavior. Specifically, attention will be given to modeling (1) the probability that a customer is likely to buy, (2) the quantity of purchase given that they will buy, and (3) the cost of marketing to each customer. Once the authors compute each of these inputs, they combine them to compute CLV using the net present value concept. The authors will examine multiple ways of computing purchase probabilities depending on the customer’s buying pattern. They will also discuss the estimation challenges in obtaining such inputs for computing CLV. The authors will demonstrate the implementation with a case study for a fashion retailer and what kind of managerial actions can be taken. Finally, a generalizable framework for all fashion retailers to maximize profits will be presented and discussed.

Experiences as the basis for value creation and competitive positioning are increasingly placed at the center of luxury marketing activities to create an emotional customer-brand relationship. Especially in the luxury travel and tourism market, the demand for brand experiences becomes apparent and is reflected in a wide range of services ranging from transport and accommodation to entertainment and relaxation. The cruise ship industry as the fastest growing sector in luxury tourism provides a holistic experiential package designed to meet the travelers’ expectations for pleasure and satisfaction. The aim of this paper is to empirically investigate antecedents of consumer luxury value perception and related consumption behavior with practical implications for the successful management of luxury brands. With special focus on brand experiences in luxury tourism and the cruise industry, the results of our empirical study reveal that luxury consumers have an increasing demand for personal and authentic experiences combined with a rising concern regarding ethical and environmental values. As a consequence, addressing brand experience and sustainability orientation as key elements of customer value perception is a promising way to create successful differentiation strategies in the luxury travel and tourism industry.

Deciding what value to offer to customers is a key managerial task in differentiating a service in the market and in satisfying customer needs better than competitors. This task is more critical for B2B services because customer satisfaction results from both the customer’s actual experience with the service and the ongoing interactions a customer has with the service provider. Previous research supports this view by showing that a service’s performance and relational value offerings are paramount in driving customer satisfaction; however, the distinct effect of each of these value offerings on customer satisfaction has not been fully explained. Using a multi-informant design and data from 173 B2B service firms, our study provides a deeper understanding of how the outcomes of performance and relational value vary at different levels of customer participation and supplier collaboration in a B2B service project. This deeper understanding helps managers to identify precisely the conditions under which a specific configuration of performance and relational value offerings is more or less influential with respect to customer satisfaction.

This paper describes how customer asset management can influence the profit and loss and the balance-sheet drivers of shareholder value. The authors argue that economic profit should be used as a measure of shareholder value creation because the former acknowledges both operating and financial expenses and allows analysis of individual customer relationships. The developed framework suggests that the drivers of shareholder value can be divided into four main categories: revenue, cost, asset utilization, and risk. The paper identifies 13 distinct roles for customer asset management that influence the four shareholder value drivers. The empirical research consists of three longitudinal B2B case studies describing customer asset management aimed at improving shareholder value creation. The findings of the empirical research suggest that B2B firms are able to acknowledge all suggested four shareholder value drivers. Findings also suggest that firms should differentiate their customer management concepts in order to move customer asset management beyond traditional acquisition–retention optimization.

Purpose Two patterns of consumer value creation are commonly observed in literature: standardisation and customisation of products. An important value-creating feature of standard products is reduction of consumer costs, both direct (prices of standard products are lower) and indirect (costs of recognising, selecting and learning-to-use). Personalised production, on the contrary, is costly, but the decrease in value due to a complexity of choice and use is compensated by an additional value from the perfect fitting to THE consumer needs. Service industry, especially B2B services, provides a good example of personalisation. This paper focuses on marketing to study drivers and determinants of the successful value creation in an individualised service production. Incentives to provide bespoke services arise when it is impossible to sell a second copy (a replica) of previously provided services: the service should be personally tailored and tuned to the needs of a particular customer. Bespoke services cannot be properly produced without detailed information about THE customers’ needs; a common knowledge about a representative consumer is not sufficient in this case. Customised KIBS have two producers: first, the service provider, who inputs its intellectual human resources; second, the customer, whose input is information, i.e. knowledge about itself. This phenomenon is known as co-production. The value of a customised service is therefore added by consumer as well. Co-production adds value to the supplied item by transforming it from replica into a unique object. The purpose of the current paper is to analyse the mechanism of co-production in marketing services in order to identify the sources of the above mentioned inefficiencies. Methodology The study of marketing services is part of the broader study of knowledge-intensive business services (KIBS) in Russia. Our methodology includes the study of observable patterns in KIBS sector performance with an objective to arrive at a better conceptual understanding of contemporary practices. We employ empirical data from 2007-13 obtained from specialised surveys of Russian executives who were asked to answer questions both on their own company and on market developments. The survey covers 600-800 producers of KIBS annually, and one tenth of them are suppliers of marketing services. Furthermore, in 2007, 2011 and in 2013 the survey involved over 700 business consumers of KIBS, of whom at least one third are users of marketing services. Marketing services involve a visible share of customised production (up to 70 per cent before the recent economic downturn), which makes them a convenient field for a research on individualised services. Original metrics of their knowledge intensity, level of customisation, customer involvement and customers’ absorptive capacity are the most important empirical outcomes of our surveys. Maim findings First, we argue that marketing services in Russia are highly knowledge intensive. The literature on KIBS usually proposes three main characteristic of knowledge intensity: 1) educational attainments of the workforce that are associated with the level of professional skills; 2) share of the value-added, and 3) share of customised services. With our original methodic we obtain quantitative metrics of all the three characteristics and prove high knowledge intensity of marketing services. Second, we present thorough investigation of provider-customer relations within service production. We provide original metrics of the intensity of customer co-production and show that the users of marketing services are deeply involved into co-production. We also demonstrate how the level of co-production fluctuates along the service production cycle to prove our hypothesis about positive relation between the intensity of customers’ involvement and their ability to add value to customised services. Third, we prove that value adding via co-production of marketing services is rarely absolutely efficient. The losses in efficiency results in value losses because proper customisation is impossible without perfect co-production, and insufficient co-production thus generates standard service instead of bespoke one. We reveal the sources of imperfect co-production and provide empirical evidence of their relative importance. Fourth, we demonstrate that value added through co-production can be lost due to incomplete absorption of the service. We provide evidence about imperfect absorptive capacity of Russian users of marketing services and expose its sources. We also discuss the relation between absorptive capacity and the general economic cycle in Russia. Research implications The study of co-production of marketing services may help their providers to optimise their customer strategy, to upgrade their value chains and to avoid value losses in their interaction with customers. More generally, the study improves our understanding of the bespoke production which takes the growing importance with the progress of post-industrial mode of production and life.

These days, thanks to lots of smart devices and advanced communication technologies, consumer’s recognition and relations have been changed. They, beyond relying on information and services which are produced by experts, produce information and knowledge by themselves via SNS or web that they want to know. As consumer’s recognition is changing like this, SNS is evolving into social platform. Therefore, this paper is intended to clarify overall relationship between network characteristics in social platform, knowledge sharing, social capital, social innovation and customer’s value. This paper has clarified influences between variables related to consumer’s behaviors in social platform and the results are summarized as following: First, network characteristics in social platform are found to positively affect knowledge sharing efforts of social platform. Second, knowledge sharing has been found to positively affect social capital and innovation in social platform. However, enjoyment in helping others i.e a sub variable is found to positively affect social capital and innovation through anticipated reciprocal relationships. Third, social capital and innovation in social platform have affected customer value in social platform positively. Consequently, this paper is intended to solve various problems found from overall societies and industries through social innovation and also to advance them. For these purposes, social platform is believed to prompt sharing idea and knowledge based on interactions between users and social relationship. These actions become social capitals resulting in social innovation. Moreover, these would create new businesses and marketing opportunities across various areas in the processes that innovative activities form customer values.