IDEAS home Printed from https://ideas.repec.org/a/gam/jadmsc/v11y2021i1p20-d504405.html
   My bibliography  Save this article

Value Co-Creation Process and Measurement in 4.0 SMEs: An Exploratory Research in a B2B Marketing Innovation Context

Author

Listed:
  • Marcelo Royo-Vela

    (Department of Commercialization and Market Research, Faculty of Economics, University of Valencia, 46022 Valencia, Spain)

  • Mariell Velasquez Serrano

    (Department of Commercialization and Market Research, Faculty of Economics, University of Valencia, 46022 Valencia, Spain)

Abstract

The purpose of this exploratory research is to contribute to the lack of empirical research exploring techniques and protocols that can be used to measure the level of value obtained from using these technologies in the various marketing processes and in a business-to-business (B2B) context. By doing so, firms operating in fast changing dynamic environments can develop the right means to continuously adapt, integrate, reconfigure, and redeploy resources and capabilities to become more competitive and disruptive in their offerings. The phenomenon of interest is described by applying a case study qualitative approach to three 4.0 companies which use virtual reality (VR)/augmented reality (AR) technologies and by carrying out ten in-depth interviews to managers in those organizations. Results show that some small and medium sized enterprises (SMEs) are more rigorous about performance and tracking metrics compared to other companies providing similar technological services. In this line, results show two stages where potential value can be generated and measured when utilizing VR/AR technologies. The first is during testing and development of VR/AR simulations. In this stage, only the ones with strong research and academic background have been developing and using tracking systems, guidelines, and protocols as resources to measure the value obtained from using these technologies in marketing innovation processes. The second moment where value creation can be measured is during the implementation of the VR/AR simulation with the target user. Further research is needed to develop standardization guidelines and protocols that guarantee the success of the simulations delivered to the hiring firms.

Suggested Citation

  • Marcelo Royo-Vela & Mariell Velasquez Serrano, 2021. "Value Co-Creation Process and Measurement in 4.0 SMEs: An Exploratory Research in a B2B Marketing Innovation Context," Administrative Sciences, MDPI, vol. 11(1), pages 1-13, February.
    • Handle: RePEc:gam:jadmsc:v:11:y:2021:i:1:p:20-:d:504405
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2076-3387/11/1/20/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2076-3387/11/1/20/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Spiggle, Susan, 1994. "Analysis and Interpretation of Qualitative Data in Consumer Research," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 21(3), pages 491-503, December.
    2. Ramaswamy, Venkat & Ozcan, Kerimcan, 2016. "Brand value co-creation in a digitalized world: An integrative framework and research implications," International Journal of Research in Marketing, Elsevier, vol. 33(1), pages 93-106.
    3. Dag Øivind Madsen, 2019. "The Emergence and Rise of Industry 4.0 Viewed through the Lens of Management Fashion Theory," Administrative Sciences, MDPI, vol. 9(3), pages 1-25, September.
    4. Stephen L. Vargo & Robert F. Lusch, 2016. "Institutions and axioms: an extension and update of service-dominant logic," Journal of the Academy of Marketing Science, Springer, vol. 44(1), pages 5-23, January.
    5. Wedel, Michel & Bigné, Enrique & Zhang, Jie, 2020. "Virtual and augmented reality: Advancing research in consumer marketing," International Journal of Research in Marketing, Elsevier, vol. 37(3), pages 443-465.
    6. Bernardo Figueiredo & Daiane Scaraboto, 2016. "The Systemic Creation of Value Through Circulation in Collaborative Consumer Networks," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 43(4), pages 509-533.
    7. Krzysztof Dembek & Prakash Singh & Vikram Bhakoo, 2016. "Literature Review of Shared Value: A Theoretical Concept or a Management Buzzword?," Journal of Business Ethics, Springer, vol. 137(2), pages 231-267, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rocsana Bucea-Manea-Țoniş & Oliva M. D. Martins & Radu Bucea-Manea-Țoniş & Cătălin Gheorghiță & Valentin Kuleto & Milena P. Ilić & Violeta-Elena Simion, 2021. "Blockchain Technology Enhances Sustainable Higher Education," Sustainability, MDPI, vol. 13(22), pages 1-21, November.
    2. Dwivedi, Abhishek & Pawsey, Nicholas, 2023. "Examining the drivers of marketing innovation in SMEs," Journal of Business Research, Elsevier, vol. 155(PB).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Feng-Shang Wu & Chia-Chang Tsai, 2022. "A Framework of the Value Co-Creation Cycle in Platform Businesses: An Exploratory Case Study," Sustainability, MDPI, vol. 14(9), pages 1-18, May.
    2. Nardi, Vinicius Antonio Machado & Jardim, William Carvalho & Ladeira, Wagner Júnior & Santini, Fernando, 2020. "A meta-analysis of the relationship between customer participation and brand outcomes," Journal of Business Research, Elsevier, vol. 117(C), pages 450-460.
    3. Tierney, Kieran D. & Oswald Karpen, Ingo & Westberg, Kate, 2022. "Brand meaning and institutional work: The light and dark sides of service employee practices," Journal of Business Research, Elsevier, vol. 151(C), pages 244-256.
    4. Jonas Holmqvist & Luca Visconti & Christian Grönroos & Blandine Guais & Aurélie Kessous, 2020. "Understanding the value process: Value creation in a luxury service context," Post-Print hal-03511392, HAL.
    5. Riccardo Rialti & Lamberto Zollo & Maria Carmen Laudano & Cristiano Ciappei, 2018. "Social media brand communities and brand value co-creation: Evidences from Italy," MERCATI & COMPETITIVIT?, FrancoAngeli Editore, vol. 2018(3), pages 111-133.
    6. Lee, Chu-Heng & Hsieh, Ming-Huei, 2023. "Market innovation as an institutional reconciliation process: Two individual-level case studies," Journal of Business Research, Elsevier, vol. 169(C).
    7. Nathaniel D. Line & Rodney C. Runyan & Tracy Gonzalez-Padron, 2019. "Multiple stakeholder market orientation: a service-dominant logic perspective of the market orientation paradigm," AMS Review, Springer;Academy of Marketing Science, vol. 9(1), pages 42-60, June.
    8. Suvi Nenonen & Kaj Storbacka & Charlotta Windahl, 2019. "Capabilities for market-shaping: triggering and facilitating increased value creation," Journal of the Academy of Marketing Science, Springer, vol. 47(4), pages 617-639, July.
    9. Abdelrahman, Omar Khaled & Banister, Emma & Hampson, Daniel Peter, 2020. "Curatorial consumption: Objects’ circulation and transference in the vintage marketplace," Journal of Business Research, Elsevier, vol. 114(C), pages 304-311.
    10. D’Arco, Mario & Lo Presti, Letizia & Marino, Vittoria & Maggiore, Giulio, 2021. "Is sustainable tourism a goal that came true? The Italian experience of the Cilento and Vallo di Diano National Park," Land Use Policy, Elsevier, vol. 101(C).
    11. Linda D. Hollebeek & Moira K. Clark & Wafa Hammedi & René Arvola, 2021. "Cocreated brand value: theoretical model and propositions," Journal of Brand Management, Palgrave Macmillan, vol. 28(4), pages 413-428, July.
    12. Tzu-Fei Hsiung & Yueh-Hsiu Cheng & Zi-Xun Han, 2021. "Sustainable Partnership: Operational Condition Analysis for Brand Value Co-Creation," Sustainability, MDPI, vol. 13(12), pages 1-23, June.
    13. Chapman, Alexis & Dilmperi, Athina, 2022. "Luxury brand value co-creation with online brand communities in the service encounter," Journal of Business Research, Elsevier, vol. 144(C), pages 902-921.
    14. Helkkula, Anu & Arnould, Eric J., 2022. "Using neo-animism to revisit actors for Sustainable Development Goals (SDGs) in S-D logic," Journal of Business Research, Elsevier, vol. 149(C), pages 860-868.
    15. Waqar Nadeem & Mari Juntunen & Nick Hajli & Mina Tajvidi, 2021. "The Role of Ethical Perceptions in Consumers’ Participation and Value Co-creation on Sharing Economy Platforms," Journal of Business Ethics, Springer, vol. 169(3), pages 421-441, March.
    16. Dion, Delphine & Mimoun, Laetitia & Anlamlier, Eda & Chatterjee, Lagnajita & Trujillo-Torres, Lez, 2023. "Consumer hacks in the sharing economy," Journal of Business Research, Elsevier, vol. 167(C).
    17. Mizan Rahman & Sunny Bose & Mujahid Mohiuddin Babu & Bidit Lal Dey & Sanjit Kumar Roy & Ben Binsardi, 2019. "Value Co-Creation as a Dialectical Process: Study in Bangladesh and Indian Province of West Bengal," Information Systems Frontiers, Springer, vol. 21(3), pages 527-545, June.
    18. Holmqvist, Jonas & Visconti, Luca M. & Grönroos, Christian & Guais, Blandine & Kessous, Aurélie, 2020. "Understanding the value process: Value creation in a luxury service context," Journal of Business Research, Elsevier, vol. 120(C), pages 114-126.
    19. Khan, Imran & Fatma, Mobin, 2024. "AR app-based brand engagement and outcomes: A moderated mediation approach," Journal of Retailing and Consumer Services, Elsevier, vol. 76(C).
    20. Michelle Renton & James E. Richard, 2019. "Exploring brand governance in SMEs: does socialisation provide a means to value creation?," Journal of Brand Management, Palgrave Macmillan, vol. 26(4), pages 461-472, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jadmsc:v:11:y:2021:i:1:p:20-:d:504405. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.