Arai, Kohei

Haga, Mayomi

Ishii, Akira

Mizuno, Makoto

Nemoto, Yutaro

Ohnishi, Takaaki

Our, Keisuke

Ozawa, Kana

Toya, Keiko

Diposit Digital de Documents de la UAB

alue co-creation is a key concept in understanding the  essence  of  service  [1].  That  is,  no  value  is generated  in  service  without  well-organized interactions  between  customers  and  service  providers (employees  and  management).  To  quantify  the  possible outcomes of such co-creation, agent-based modeling is one of the promising methodologies.  Indeed, this methodology is  expected  to  contribute  the  development  of  “service science” as an interdisciplinary research area [2]. Our study applies this for a B2B financial  service, focusing on when and how value co-creation would occur there.VWe built an agent-based model to simulate the invisible process  enabling  value  co-creation  in  a  B2B  financial service.  The  model  involves  a  large  number  of  agents representing  customers  (owner/management  of  borrower firms) and employees (liaison persons of a financing firm).  As a consequence of interactions between them, each agent forms  the  attitude  toward  the  counterpart  in  terms  of cognitive/affective  aspects,  that  will  affect  the  stream  of customer  profitability.  This  process  is  modeled  in  part following  a  spirit  of  Customer  Equity  model  of  [3].  In addition, the network among customers is incorporated into our model to reflect the possible peer-to-peer influence.We obtained  the  data  for  parameterizing  each  agent’s behavior  from  a  regional  B2B finance  service  group  in Japan,  involving  customer  attitude  surveys/profitability records for about 3,000 customers and their corresponding employees.  Also,  possible networks  among  customers  are incorporated based on the transaction data recorded. Most This work was supported by JST-RISTEX.parameters  are  adjusted  to  replicate  more  precisely  the observed macro/micro behaviors of agents.By  simulating  our  empirically  validated  agent-based model,  we  can  examine  under  what  conditions  value co-creating  activities  simultaneously  improve  the  utilities which each customer or employee gains and the long-term profitability  for  the  financing  firm,  as  suggested  by the concept of service-profit chain [4]. We report the status quo of  this  ongoing  study  exploring  how  to  improve  the matching procedure between employees and customers and the  allocation  of  marketing  efforts  among  customers (customer portfolio). Finally, we discuss the limitation and the further development of this study.REFERENCES[1] S. L. Vargo, and R. F. Lusch, “Evolving to a new dominant logic for marketing,” J. of Marketing, vol. 68, no.1, 2004, pp. 1–17.[2] J. Spohrer, and P. P. Maglio, “The emergence of service science: toward systematic  service  innovations  to  accelerate  co-creation  of  value,” Production and Operations Management, vol.  17,  issue 3,  2008,  pp. 238–246.[3] R.  T.  Rust,  K.  N.  Lemon,  and  V. A.  Zeithaml  (2004)  “Return  on marketing: using customer equity to focus marketing strategy,”  J. of  Marketing, vol. 68, no.1, 2004, pp. 109–127.[4] J. Heskett, W. E. Sasser Jr., and L. A. Schlesinger, The Service Profit Chain: How Leading Companies Link Profit and Growth to Loyalty,  Satisfaction, and Value. New York: The Free Press, 1997.Simulating Value Co-Creation in B2B Financial Service: An Application of Empirical Agent-Based ModelingMakoto MizunoSchool of Commerce, Meiji University, 1-1 Kanda-Surugadai, Chiyoda, 101-8301 Tokyo, JAPANEmail: makoto@meiji.ac.jpKeiko ToyaGraduate School of Global Business, Meiji University, 1-1 Kanda-Surugadai, Chiyoda, 101-8301 Tokyo, JAPANEmail: ktoya@meiji.ac.jpKana OzawaDepartment of Economics, Ryutsu Keizai University, 3-2-1 Shin-Matsudo, Matsudo, 270-8555 Chiba, JAPANEmail: ozawa-kana@rku.ac.jpMayomi Haga Department of Business Strategy, Tokuyama University, Gakuendai, Shunan, 745-8566 Yamaguchi, JAPAN Email: mayomi@pop06.odn.ne.jpYutaro NemotoDepartment of System Design, Tokyo Metropolitan University, 6-6 Asahigaoka, Hino, 191-0065 Tokyo, JAPANEmail: nemoto-yutaro@ed.tmu.ac.jpKohei AraiFaculty of Social & Information Studies, Gunma University, 4-2 Aramaki-machi, Maebashi, 371-8510 Gunma, JAPANEmail: k_arai@gunma-u.ac.jpKeisuke OuraFaculty of Economics, Shiga University, 1-1-1 Banba, Hikone, 522-8522 Shiga, JAPANEmail: kei-oura@biwako.shiga-u.ac.jpAkira IshiiDepartment of Applied Mathematics and Physics , Tottori University, 4-101 Koyama-cho Minami, Tottori, 680-8550 Tottori, JAPANEmail: ishii@damp.tottori-u.ac.jpTakaaki OhnishiGraduate School of Information Science and Technology, University of Tokyo, 1-1-1 Yayoi, Bunkyo, 113-8656 Tokyo, JAPANEmail: ohnishi.takaaki@i.u-tokyo.ac.jpMiguel, Amblard, Barceló & Madella (eds.) Advances in Computational Social Science and Social SimulationBarcelona: Autònoma University of Barcelona, 2014, DDD repository <http://ddd.uab.cat/record/125597>

Simulating value co-creation in B2B financial service : An application of empirical agent-based modeling

http://ddd.uab.cat/pub/poncom/2014/128580/ssc14_a2014a106iENG.pdf

Simulating value co-creation in B2B financial service : An application of empirical agent-based modeling

Abstract

Similar works

Full text

Available Versions

Diposit Digital de Documents de la UAB