Co-production and customer loyalty in financial services |
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| Authors: | Seigyoung Auh Simon J Bell Colin S McLeod Eric Shih |
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| Institution: | aYonsei School of Business, Yonsei University, 134 Shinchon-dong, Seodaemun-gu, Seoul 120-749, South Korea;bJudge Business School, University of Cambridge, Trumpington Street, Cambridge CB2 1AG, United Kingdom;cAustralian Football League, 140 Harbour Esp Docklands, Melbourne 3008, Australia;dGraduate School of Business, Sungkyunkwan University, Seoul 110-745, South Korea |
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| Abstract: | Recent developments in marketing thought and practice highlight the opportunities that co-production of services provide for creating customer value. The authors propose a model of co-production with which they investigate the links between co-production and customer loyalty and the factors likely to increase the level of co-production in a financial services context, with support from an investigation in the medical services context. Further, the authors consider the relationships of customer expertise, customer–advisor communication, customer affective commitment, and interactional justice with the level of co-production. On the basis of testing with a sample of 1,197 customers of a large multinational financial services organization and 100 patients of medical services, the model is partially supported. Therefore, the authors suggest that co-production may have an important role as a basis for competition in the financial services industry. |
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| Keywords: | Financial services Customer loyalty Co-production Medical services Customer value |
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