An Empirical Analysis of the Dimensions of Consumer Value for an Experiential Offering in Marketing

An experiential offering is as an activity, product, or service that provides valuable subjective experiences during consumption. Marketers can capitalize on this consumer value if they know which dimensions are most important to consumers. Based on a review of the literature, this study developed a framework that represents three major components of customer value in an experiential offering: social value, utilitarian value, and emotional or hedonic value. After, analyzing the data from 373 respondents, the results of this study showed that social identification with peers, utilitarian attitude toward the consumption process itself, and hedonic experiences during consumption were all dimensions of value. This study contributes to the existing literature by demonstrating the importance of both feelings of belongingness and identifying with a college peer group (value-expressive influence) in the intention to consume an experiential offering. It also validates the importance of utilitarian value, even in experiential offerings. Finally, it shows hedonic feelings were significant in the respondents\u27 intentions to listen to music. Marketers and managers need to be aware of the subjective and symbolic aspects of consumption addressed in this study. Social identity and symbolism were significant for college students in the sample analyzed. This type of information allows marketers to reinforce important dimensions of value in experiential offerings when developing advertising themes across multiple types of medi

An Empirical Analysis of the Dimensions of Consumer Value for an Experiential Offering in Marketing

An experiential offering is as an activity, product, or service that provides valuable subjective experiences during consumption. Marketers can capitalize on this consumer value if they know which dimensions are most important to consumers. Based on a review of the literature, this study developed a framework that represents three major components of customer value in an experiential offering: social value, utilitarian value, and emotional or hedonic value. After, analyzing the data from 373 respondents, the results of this study showed that social identification with peers, utilitarian attitude toward the consumption process itself, and hedonic experiences during consumption were all dimensions of value. This study contributes to the existing literature by demonstrating the importance of both feelings of belongingness and identifying with a college peer group (value-expressive influence) in the intention to consume an experiential offering. It also validates the importance of utilitarian value, even in experiential offerings. Finally, it shows hedonic feelings were significant in the respondents\u27 intentions to listen to music. Marketers and managers need to be aware of the subjective and symbolic aspects of consumption addressed in this study. Social identity and symbolism were significant for college students in the sample analyzed. This type of information allows marketers to reinforce important dimensions of value in experiential offerings when developing advertising themes across multiple types of medi

Transforming Marketing Education of the Future: The Role of Intelligent Agent Technologies (IATs) in Enhancing Student Learning

This conceptual paper introduces IATs and discusses how such intelligent and interactive applications can translate into better education environment for marketing curriculum, particularly marketing research. We present a conceptual model based on extant literature. We present some initial test of our conceptual model of IAT usage in marketing education in a marketing research class

Sustainable Competitive Advantage of Internet Firms - A Strategic Framework and Implications for Global Marketers

Purpose – At the core of an international marketing strategy is the internet firm’s goal of building and sustaining a competitive advantage. The purpose of this paper is to present an integrative framework to explain the role that customer behavior and customer relationship management (CRM) play in developing a profitable, sustainable competitive advantage for internet companies. Design/methodology/approach – The integrative framework utilizes existing theoretical concepts from the areas of strategy and internet marketing and develops a framework to provide firms with insights into how they can gain the competitive advantage. Findings – This paper links global customer behavior to the firms’ business value chain and provides guidelines for strategic implications. In this conceptual paper, it is discussed that understanding consumer decision-making behavior on the web and managing these relationships are critically important to achieve a superior performance. Research limitations/implications – This is not empirical research. A theoretical model is presented for future testing by researchers using statistical techniques such as structural equation modeling. Practical implications – The framework provides managerial insights into building and sustaining a competitive advantage using a consumer-centric approach, coupled with CRM technology on a global scale. Managerial value is derived by providing an understanding of the link between a sustainable competitive advantage, customer-focused strategies, consumers’ needs and wants, the firm’s performance, and shareholder value. Originality/value – It is important for global marketers to understand how consumer decision-making on the web affects strategic and financial performance. This paper extends the current literature by integrating consumer decision behavior on the web, CRM, and the firms’ performance. This framework explains the creation of a sustainable competitive advantage using customer-focused strategies to develop customer loyalty for superior firm performance

Sustainable Competitive Advantage of Internet Firms - A Strategic Framework and Implications for Global Marketers

Purpose – At the core of an international marketing strategy is the internet firm’s goal of building and sustaining a competitive advantage. The purpose of this paper is to present an integrative framework to explain the role that customer behavior and customer relationship management (CRM) play in developing a profitable, sustainable competitive advantage for internet companies. Design/methodology/approach – The integrative framework utilizes existing theoretical concepts from the areas of strategy and internet marketing and develops a framework to provide firms with insights into how they can gain the competitive advantage. Findings – This paper links global customer behavior to the firms’ business value chain and provides guidelines for strategic implications. In this conceptual paper, it is discussed that understanding consumer decision-making behavior on the web and managing these relationships are critically important to achieve a superior performance. Research limitations/implications – This is not empirical research. A theoretical model is presented for future testing by researchers using statistical techniques such as structural equation modeling. Practical implications – The framework provides managerial insights into building and sustaining a competitive advantage using a consumer-centric approach, coupled with CRM technology on a global scale. Managerial value is derived by providing an understanding of the link between a sustainable competitive advantage, customer-focused strategies, consumers’ needs and wants, the firm’s performance, and shareholder value. Originality/value – It is important for global marketers to understand how consumer decision-making on the web affects strategic and financial performance. This paper extends the current literature by integrating consumer decision behavior on the web, CRM, and the firms’ performance. This framework explains the creation of a sustainable competitive advantage using customer-focused strategies to develop customer loyalty for superior firm performance

An Empirical Analysis of the Dimensions of Consumer Value for an Experiential Offering in Marketing

An experiential offering is as an activity, product, or service that provides valuable subjective experiences during consumption. Marketers can capitalize on this consumer value if they know which dimensions are most important to consumers. Based on a review of the literature, this study developed a framework that represents three major components of customer value in an experiential offering: social value, utilitarian value, and emotional or hedonic value. After, analyzing the data from 373 respondents, the results of this study showed that social identification with peers, utilitarian attitude toward the consumption process itself, and hedonic experiences during consumption were all dimensions of value. This study contributes to the existing literature by demonstrating the importance of both feelings of belongingness and identifying with a college peer group (value-expressive influence) in the intention to consume an experiential offering. It also validates the importance of utilitarian value, even in experiential offerings. Finally, it shows hedonic feelings were significant in the respondents\u27 intentions to listen to music. Marketers and managers need to be aware of the subjective and symbolic aspects of consumption addressed in this study. Social identity and symbolism were significant for college students in the sample analyzed. This type of information allows marketers to reinforce important dimensions of value in experiential offerings when developing advertising themes across multiple types of medi