Formation Mechanism And Effect Of Value Co-creation In Service Industry

With the rapid development of the economy and the changing social and business environment.the proportion of service enterprises in the national economic structure is increasing,and the role played is becoming more and more important.Customers are no longer traditional,waiting for marketing objects,but important production resources that service companies can cooperate with.The ability to effectively collaborate with customers and leverage the consumer's consumption potential to create value together is a key element of the success of the service industry.In the traditional economic state,consumers are often only able to passively participate in the process of providing products or services to service companies.In this situation,companies that provide products or services tend to have a leading role,and consumers passively accept services or products provided by enterprises.Consumers will communicate and cooperate with the enterprise in different stages in the production process of the service enterprise,and they will bring more production suggestions and influences to the service enterprise.This change indicates that the relationship between the company and the customer has undergone major changes.It is no longer a traditional enterprise to produce products on a large scale.The customer passively accepts the product,but the enterprise and the customer can exchange information and share resources to create a customer.Products and services with unique needs.Value creation is a key element for a service company to succeed.Traditionally,value creation takes place within an enterprise,based on the matching of the supply of the business with the needs of the consumer.With the development of the Internet and the development of information technology,traditional enterprise production methods and sales methods have gradually transitioned to the cooperation between enterprises and consumers to complete the research and development.production and marketing of new products.This trend is challenging traditional enterprise management.Idea.The role of consumers in production and consumption activities is undergoing profound changes.They have become a new source of service companies to build competitive advantage and become an important part of value creation.Therefore.creating value has become an important topic in marketing theory and practice.However,the research on co-creation value is not vet mature,and there are some problems that need further thinking and research:(1)Although some scholars have defined the concept of co-creating value from different service industries,and given the value of co-creation.Connotation and conceptual dimensions,but there is a lack of systematic research on how customer engagement affects co-creation value formation and which mediators influence the co-creation of value through customer interaction.Through the understanding of the process of creating a value creation service,the service enterprise can effectively manage the customers and then guide the customers to create more value for the enterprises in the process of participating in the service enterprise consumption.(2)Co-creation value is the result of mutual exchange and cooperation between service enterprises at the organizational level and customers at the individual level.How to explore the formation mechanism of co-creation value from the perspective of enterprise traits and customer abilities,and how to reflect between them Intrinsic relationship is the key research direction of future research,and it is also the key research issue of this research.(3)In the existing literature on co-creation value.scholars tend to analyze co-creation value as an explained variable(state variable).This research method has certain limitations and tends to ignore the research on the influence of co-creation value on customer satisfaction and employee job satisfaction.In view of the above problems,this research mainly completes the following aspects of work,from the perspective of customer capabilities and corporate traits to explore the formation mechanism of co-creation value and the effect of co-creation value,so as to further enrich and improve the value of co-creation theory.(1)Exploring the formation mechanism of co-creation value from the perspective of customer ability.Through the questionnaire survey of 380 Chinese consumers in the service process,the structural equation model was used for empirical analysis.The results show that customer ability positively affects customer participation,customer participation promotes co-creation value,customer participation promotes customer trust,customer trust promotes co-creation value,and customer preference affects customer participation process The medium adjustment effect is significant,and customer trust plays a partial intermediary role in the process of customer participation affecting co-creation value.(2)Exploring the formation mechanism of co-creation value from the perspective of customer competence and corporate traits.Through the questionnaire survey of 38 service companies,mid-level managers or supervisors of 369 service enterprises and 1140 consumers in the process of receiving services,the structural equation model and multi-layer linear model are used for empirical analysis.The results show that customer ability positively affects customers.Participation,corporate traits are positively affecting customer participation,customer participation promotes co-creation value,customer participation promotes customer trust,customer trust promotes co-creation,customer preferences and service ambiance are customer traits and corporate traits The adjustment effect in the process of influencing customer participation is significant,and customer trust plays a partial intermediary role in the process of customer participation affecting co-creation value.(3)Study how co-creation value affects customer satisfaction and employee job satisfaction,and how it affects customer loyalty and employee performance.Through the questionnaire survey of 49 service companies.427 employees and 1218 consumers in the service process,the structural equation model and multi-level linear model(HLM)were used for empirical analysis.The results show that co-creation value positively affects customer satisfaction and promotes customer satisfaction;customer satisfaction has a positive effect on customer loyalty;hedonic value positively affects employee job satisfaction and promotes employee job satisfaction;Value positively affects employee job satisfaction and promotes employee job satisfaction;relationship value positively affects employee job satisfaction and promotes employee job satisfaction;employee job satisfaction has a positive effect on employee job performance Customer satisfaction positively affects employee performance and promotes employee performance;employee job satisfaction positively affects customer loyalty and promotes customer loyalty.Finally,the management practice significance and future research directions of the research are discussed.