Online consumer activities have increased considerably since the COVID-19 outbreak. For the products and services which have an impact on everyday life, online reviews and recommendations can play a significant role in consumer decision-making processes. Thus, to better serve their customers, online firms are required to build online-centric marketing strategies. Especially, it is essential to define core value of customers based on the online customer reviews and to propose these values to their customers. This study discovers specific perceived values of customers in regard to a certain product and service, using online customer reviews and proposes a customer value proposition methodology which enables online firms to develop more effective marketing strategies. In order to discover customers value, the methodology employs a text-mining technology, which combines a sentiment analysis and topic modeling. By the methodology, customer emotions and value factors can be more clearly defined. It is expected that online firms can better identify value elements of their respective customers, provide appropriate value propositions, and thus gain sustainable competitive advantage.

Companies widely use survey to identify customer requirements, but the survey has some problems. First of all, the response is passive due to pre-designed questionnaire by companies which are the surveyor. Second, the surveyor needs to have good preliminary knowledge to improve the quality of the survey. On the other hand, text mining is an excellent way to compensate for the limitations of surveys. Recently, the importance of online review is steadily grown, and the enormous amount of text data has increased as Internet usage higher. Also, a technique to extract high-quality information from text data called Text Mining is improving. However, previous studies tend to focus on improving the accuracy of individual analytics techniques. This study proposes the methodology by combining several text mining techniques and has mainly three contributions. Firstly, able to extract information from text data without a preliminary design of the surveyor. Secondly, no need for prior knowledge to extract information. Lastly, this method provides quantitative sentiment score that can be used in decision-making.