Value co-creation and social media: Investigating antecedents and influencing factors in the U.S. retail banking industry
Article
Article Title | Value co-creation and social media: Investigating antecedents and influencing factors in the U.S. retail banking industry |
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ERA Journal ID | 19837 |
Article Category | Article |
Authors | Ferm, Lars-Erik Casper and Thaichon, Park |
Journal Title | Journal of Retailing and Consumer Services |
Journal Citation | 61 |
Article Number | 102548 |
Number of Pages | 12 |
Year | Jul 2021 |
Publisher | Elsevier |
Place of Publication | United Kingdom |
ISSN | 0969-6989 |
1873-1384 | |
Digital Object Identifier (DOI) | https://doi.org/10.1016/j.jretconser.2021.102548 |
Web Address (URL) | https://www.sciencedirect.com/science/article/pii/S0969698921001144 |
Abstract | This study seeks to examine and unearth antecedents to co-creation behaviours within a U.S. retail banking context. A critical aspect for marketing managers and academics alike, co-creation has a strong influence on tangible factors such as profit and intangible factors such as referrals, satisfaction and feedback. Antecedents were identified as trust, customer engagement and participation attitude whilst social media usage was a consumer characteristic identified as influencing co-creation. Data was collected from 489 U.S. retail banking customers via an online survey. The data was analysed via structural equation modelling. The findings indicate that customer engagement influences trust, co-creation and participation attitude. Participation attitude was found to influence trust and co-creation but trust had no direct effect on co-creation. The study further found that social media usage intensity influenced co-creation behaviours. The findings contribute in three ways. First, this is one of the first studies to scrutinise participation attitude in an attempt to explain co-creation behaviours for U.S. banks over social media. Second, identification of precursors to value co-creation has been ascertained in a U.S. retail banking social media context. Third, the study additionally contributes to the findings that social media usage has a moderating effect in value co-creation and offers a potential segmentation strategy. |
Keywords | Value Co-Creation; Retail banking; Social media; Customer engagement; Participation attitude; Trust |
ANZSRC Field of Research 2020 | 350605. Marketing management (incl. strategy and customer relations) |
Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
Byline Affiliations | Griffith University |
https://research.usq.edu.au/item/xx0yq/value-co-creation-and-social-media-investigating-antecedents-and-influencing-factors-in-the-u-s-retail-banking-industry
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