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, Maria Angeles García-Haro, Pablo Ruíz-Palomino, Louise Kelly
Published: 28 May 2021
Frontiers in Psychology, Volume 12; doi:10.3389/fpsyg.2021.683829

Abstract:
Editorial on the Research Topic Social and Psychological Determinants of Value Co-creation in the Digital Era Organizations in the twenty-first century continuously adapt their mindsets and look for new ways to reawaken employees' talent toward innovation and competitiveness. In this regard, they fulfill new environment requirements together with more effective and interactive competitive strategies such as: fostering cooperation, promoting relationships of resource/competencies exchange, and developing networks through communication platforms and virtualization. There is a constant transformation of administrative processes from isolated into interactive processes. Consequently, a more psychological and social approach is needed to understand the real value and combined outcomes experienced through value co-creation activities. For a better understanding, organizational studies should consider a holistic view of stakeholders and their context as co-creators of the key-value needed to excel and be competitive. This Research Topic for Frontiers in Psychology brings together a set of contributions related to social and psychological determinants of value co-creation for organizations and individuals. In a brief, value co-creation reflects the value created and experienced through collaboration between multiple stakeholders (Prahalad and Ramaswamy, 2000; Saarijärvi et al., 2013). This concept has become a paradigm shift highlighting joint outcomes of a service organization's interaction with stakeholders (Grönroos, 2017). Also, value co-creation is a mechanism of the business model that creates a unique strategic relationship (de Oliveira and Cortimiglia, 2017). Moreover, it can become the central focus of organizations wanting to create superior shared value (Merz et al., 2018). However, the outcomes are affected by diverse internal and external determinants such as, individual/group/organizational characteristics, expectations, degree of participation, and environment (Jaakkola et al., 2015; Hsieh and Chang, 2016). Understanding the influence of these factors and contingent situations allows companies to strategically leverage their interactions with key stakeholders. Recent, systematic review of the topic identified three broad research perspectives: psychological elements of value co-creation, content and processes, and innovation results (Fan and Luo, 2020). The present Special Issue brings together 12 studies by 53 authors who analyzed value co-creation and its relevance to addressing gaps of these research perspectives. In the first, related to psychological elements of value co-creation, the research question is: why do customers participate in co-creation? Therefore, is value co-creation related to psychological factors such as motivation and personal characteristics? In this Research Topic: Méndez-Aparicio et al. analyzed how customers' experience and satisfaction were related to value co-created with users of a private insurance corporation's web platform. Their empirical results showed that user's expectations were only relevant before web consumption. Liu et al. explored the relationship between users' psychological contracts and their knowledge contribution in online health communities. Their results showed that users' transactional psychological contracts harmed their knowledge contribution directly and indirectly by weakening their community identification. Carranza et al. studied how e-banking adoption could be an opportunity for customer value co-creation. Their results suggested that when e-banking customers had a positive attitude toward using e-banking they also had a greater intention to co-create and collaborate. Hasan Al-kumaim et al. studied the role of sustaining continuous engagement through online platforms in value co-creation among individuals in universities. Their results proved that personal factors and perceived usefulness are motivational factors, however, the significance of these findings was contingent on individuals. The second stream related to consumer processes is related to the question: how to carry out value co-creation?. The response includes activities on how to manage problems and elements in collaboration. In this Research Topic: Siddique et al. theoretically studied customer engagement valence in a virtual service network. Their research analyzes how customer engagement's valence depends on the cognitive interpretation of positive signals (co-creating) and negative signals (co-destructing) prompted by multiple actors on a web store service network. González-Santa Cruz et al. studied the internal marketing dimensions in cooperatives and social economy organizations. Their research about Ecuador's cooperative phenomenon highlighted the importance of providing quality service content to the external customer's characteristics and needs. Garro-Abarca et al. analyzed virtual teams' role in times of pandemic, exploring factors that influence performance. Their paper groups the main elements into different models proposed by the literature and analyzes a study conducted amid the Covid-19 crisis on 317 software development teams. They found that communication processes are crucial to working in virtual teams, and also trust management is essential for leadership, empowerment, and cohesion. Finally, in the research stream related to the impact results of value co-creation, variables related to innovation, engagement, loyalty, among other aspects, will have positive outcomes. In the Research Topic: González-Torres et al. used a service-dominant logic perspective and a bibliometric analysis for analyzing the value co-creation effect of industrial clusters and global value chains. Their research remarked the critical change of these systems from the traditional isolated configuration to a more co-produced value chain structure with specialized interactive services. Nájera-Sánchez et al. mapped value...
Desia Indriastuti, Anas Hidayat
European Journal of Business and Management Research, Volume 6, pp 92-98; doi:10.24018/ejbmr.2021.6.3.864

Abstract:
This research aims to analyze service experience and trust on satisfaction, analyze service experience and trust on loyalty as well as to analyze the effect of satisfaction on loyalty. This research was conducted by taking credit customers from Bank Rakyat Indonesia in Yogyakarta, a special big city in Indonesia. This research has utilized a purposive sampling technique. The number of samples as respondents in the study were 250 people. The calculation technique used in this study is the AMOS Structural Equation Modeling. The results showed that there are significant influence of Service Experience and Trust on Satisfaction; and also, there are significant influence of Service Experience, Trust and Satisfaction on Loyalty. Based on direct and direct effects analysis among independent variables, Customer Satisfaction is found as a significant role of mediating, since total effects of Service Experiences and Trust toward Customer loyalty are bigger results than their direct effects.
Heba Sadek, Heba El Mehelmi
Journal of Business & Retail Management Research, Volume 14; doi:10.24052/jbrmr/v14is03/art-03

Abstract:
Brand Engagement, Online Brand Experience, Satisfaction, Loyalty, Trust, Egypt. This study measures the impact of customer brand engagement (CBE) on brand satisfaction, loyalty, and trust through the online brand experience in the Egyptian banking sector based on the customers’ perspective. Electronic questionnaires were developed to collect data. Data collected from 392 questionnaires was analyzed by means of Structural Equation Modelling (SEM). Findings indicated that CBE has a significant positive impact on brand satisfaction, trust, and loyalty respectively via the online brand experience. This study contributes to knowledge development by focusing on the importance of CBE and its consequences in the online service sector, which is still uncovered. Besides, this study offers guidelines to the service providers with valuable meanings for CBE to enhance brand’s satisfaction, trust and loyalty via developing a unique online brand experience particularly in the Egyptian banking sector, which is witnessing now a new era of digital transformation. Algharabat, R., Rana, N., Alalwan, A., Baabdullah, A. & Gupta, A.(2020), Investigating the antecedents of customer brand engagement and consumer- based brand equity in social media, Journal of Retailing and Consumer Services, Vol.53 No.1, pp.101767. Alloza, A. (2008), Brand engagement and brand experience at BBVA, the transformation of a 150-year-old company, Corporate Reputation Review, Vol.11 No.4, pp. 371–379. Anderson, J.C. & Gerbing, D.W. (1988), Structural equation modeling in practice: A review and recommended two-step approach, Psychological Bulletin, Vol.103 No.3, pp.411. Arnold, M.J., Reynolds, K.E., Ponder, N. & Lueg, J.E. (2005), Customer delight in a retail context: investigating delightful and terrible shopping experiences, Journal of Business Research, Vol.58 No.8, pp. 1132–1145. Bartlett, M. S. (1951), The effect of standardization on a Chi-square approximation in factor analysis, Biometrika, Vol.38 No.3/4, pp.337-344. Bijmolt, T.H., Leeflang, P.S., Block, F., Eisenbeiss, M., Hardie, B.G., Lemmens, A. & Saffert, P. (2010), Analytics for customer engagement. Journal of Service Research, Vol.13 No.3, pp.341–356. Bleier, A., Harmeling, C.M. & Palmatier, R.W. (2019), Creating Effective Online Customer Experiences, Journal of Marketing, Vol.83 No.2, pp. 98–119. Bowden, J.L.H. (2009), The process of customer engagement: A conceptual framework, Journal of Marketing Theory and Practice, Vol.17 No.1, pp. 63–74. Brakus, J.J., Schmitt, B.H. & Zarantonello, L. (2009), Brand experience: what is it? How is it measured? Does it affect loyalty? Journal of Marketing, Vol.73 No.3, pp. 52–68. Brodie, R.J., Hollebeek, L.D., Jurić, B. & Ilić, A. (2011). Customer engagement: conceptual domain, fundamental propositions, and implications for research, Journal of Service Research, Vol.14 No.3, pp. 252–271. Brodie, R.J., Ilic, A., Juric, B. & Hollebeek, L. (2013), Consumer engagement in a virtual brand community: An exploratory analysis, Journal of Business Research, Vol. 66 No.1, pp.105–114. Brussels Research Groups (2019). Egypt’s Banking Sector Remains Resilient. Retrieved on May, 20 2020 from https://brusselsresearchgroup.org/index.php/2019/02/03/egypts-banking-sector-remains-resilient/ Chang, S.-W. & Fan, S.-H. (2017), Cultivating the brand-customer relationship in Facebook fan pages: a study of fast-fashion industry, International Journal of Retail & Distribution Management, Vol.45 No.3, pp. 253–270. Chinomona, R. (2013), The influence of brand experience on brand satisfaction, trust and attachment in South Africa, International Business & Economics Research Journal (IBER), Vol.12 No.10, pp. 1303–1316. Cleff, T., Walter, N. & Xie, J. (2018), The Effect of Online Brand Experience on Brand Loyalty: A Web of Emotions, IUP Journal of Brand Management, Vol.15 No.1, pp. 8–24. Delgado-Ballester, E. & Luis Munuera-Alemán, J. (2001), Brand trust in the context of consumer loyalty, European Journal of Marketing, Vol.35 No.11/12, pp. 1238–1258. Dessart, L., Veloutsou, C. & Morgan-Thomas, A. (2015), Consumer engagement in online brand communities: a social media perspective, Journal of Product & Brand Management, Vol.24 No.1, pp. 28–42. Dimitriadis, S. & Kyrezis, N. (2008), Does trust in the bank build trust in its technology-based channels? Journal of Financial Services Marketing, Vol.13 No.1, pp.28–38. Dwivedi, A. (2015), A higher-order model of consumer brand engagement and its impact on loyalty intentions, Journal of Retailing and Consumer Services, Vol. 24 No.1, pp.100–109. El Essawi, N. & Abd El Aziz, R. (2012), Determining the main dimensions that affect e-customer relationship management readiness in the Egyptian banking industry, International Journal of Electronic Customer Relationship Management, Vol.6 No.3/4, pp. 217-234. Flavián, C., Guinalíu, M. & Gurrea, R. (2006), The role played by perceived usability, satisfaction and consumer trust on website loyalty, Information & Management, Vol.43 No.1, pp.1–14. Fornell, C. (1992), A national customer satisfaction barometer: The Swedish experience, Journal of Marketing, Vol.56 No.1, pp. 6–21. France, C., Merrilees, B. & Miller, D. (2016), An Integrated Model of Customer-Brand Engagement: Drivers and Consequences, Journal of Brand Management, Vol.23 No.2, pp.119-136. Francisco-Maffezzolli, E.C., Semprebon, E. & Prado, P.H.M. (2014), Construing loyalty through brand experience: the mediating role of brand relationship quality. Journal of Brand Management, Vol.21 No.5, pp.446–458. Gentile, C., Spiller, N. & Noci, G. (2007), How to sustain the customer experience: An overview of experience components that co-create value with the customer, European Management Journal, Vol.25 No.5, pp.395–410. Gong, T. (2018), Customer brand engagement behavior in...
Journal of Research in Interactive Marketing, Volume 12, pp 432-451; doi:10.1108/jrim-01-2018-0026

Abstract:
Purpose This study aims to examine managers’ perceptions of digital banking’s (DB) effect on customer experience and banks’ financial performance. Design/methodology/approach The research uses interviews from the senior UK bank managers to gather their views on DB’s impact on customer experience and financial performance. The interviews were thematically analysed to produce results and a model. Findings The attributes affecting DB experience are as follows: service quality, functional quality, perceived value, service customisation, service speed, employee–customer engagement, brand trust, DB innovation, perceived usability and perceived risk. They affect customer experience, satisfaction and loyalty and financial performance. The research revealed relationships amongst these attributes (e.g. brand trust and loyalty). Research limitations/implications The study is a UK bank specific and can be replicated in other developed countries’ banks, helping in further comparison. However, DB is conducted globally, which implies that the findings are robust enough to be potentially applied in other countries. The proposed model shows customer experience drivers and outcomes through managers’ views, which can be theoretically tested. Practical implications The findings suggest important attributes (as above) for consideration to improve DB customer experience and financial performance. They show the relevance of employee–customer interaction, service personalisation, value proposition, quality service offering and DB experience, which have useful implications for improving DB design and interactive marketing. Originality/value Gauging DB customer experience as perceived by bank managers has not been studied in this way, highlighting DB effectiveness, which is important for multi-channel marketing and banks’ financial performance, and advances theory.
Kristina Heinonen
Published: 26 August 2014
International Journal of Bank Marketing, Volume 32, pp 450-456; doi:10.1108/ijbm-06-2014-0086

Abstract:
Purpose – The purpose of this paper is to describe and conceptualize customer relationships in the financial service sector, focussing on three aspects of customer-bank relationships: the financial service provider perspective, the customer-provider dyad, and the customer context. Design/methodology/approach – Through a short review of the eight papers included in this special issue, this paper illustrates different aspects of customer relationships. It explores customer value formation in the context of banking services, the dynamics and strength of customer relationships, and strategies for financial service provision and consumer trust. Findings – Customer relationships in the financial service sector are increasingly dynamic and unpredictable. This may be due to both activities within the control of financial service providers, such as strategies for service provision, but is more often attributable to factors beyond the control of providers. What empowered customers are doing in their own settings influences their attitudes toward and evaluations of financial services. Research limitations/implications – The paper is conceptual. It challenges the firm-centric approach to customer relationships and compares different perspectives of customer relationships. The significance of the customer-centric perspective is emphasized. Practical implications – Awareness of uncontrollable and idiosyncratic aspects of customer relationships will offer financial service providers new opportunities for being present in the customers’ lives and business. Originality/value – This paper illustrates the importance of extending the focus from what financial service providers are doing to what customers are doing within their own domains. Financial service providers need to understand more about their customers than their perceptions of service quality, satisfaction, and loyalty in different distribution channels, such as internet and mobile banking. The focus should be instead on how customers integrate their financial activities and experiences in their own life or business.
Monireh Salehnia, Maryam Saki, Alireza Eshaghi, Nafiseh Salehnia
8th International Conference on e-Commerce in Developing Countries: With Focus on e-Trust pp 1-7; doi:10.1109/ecdc.2014.6836764

Abstract:
Customers extend robust trust to a business when they believe the business puts their interests first. Good experience of banking services and recommendations of other customers can increase trust. Loyalty and Word of mouth (WOM) is accepted as key factors successes of marketing. This paper seeks to discover the affecting factors on positive word of mouth and loyalty based on trust enhancement that might be influenced by results of service quality in internet banking context. In fact, purpose of this research is presenting A Model of E-Loyalty, E-trust and Word of Mouth, whit Emphasize on E-ServQual Model and e-satisfaction and bank image. A structural equation model was developed and was tested by data surveyed from Iranian customers that used internet service of Mellat Bank. The sample composed of customers who were belonging to different states. Path analysis was applied to test the proposed model. The findings are belonging to one bank only; but, they give a valuable framework for future research into WOM, E-Trust and e-Loyalty in Electronic Banking context. The importance of Trust, WOM and loyalty in professional services marketing is widely acknowledged; however, knowledge about how to enhance their Prerequisite is little. Present study provides a better understanding of affecting factor on customer loyalty, trust and WOM for marketing. Final presented model of this research in first research about Trust, WOM and Loyalty in internet banking that measure e-SQ and its effect on loyalty and word of mouth with by e-trust respect to satisfaction and corporate image. Previous research attended to loyalty only and limited to a few factors. Whereas, this paper provides insights on related factors of WOM, trust and loyalty that is currently a part of black box in the marketing literature and internet banking context.
Roland Kantsperger, Werner H. Kunz
Managing Service Quality: An International Journal, Volume 20, pp 4-25; doi:10.1108/09604521011011603

Abstract:
Purpose – The concept of “trust” has gained considerable importance in the field of marketing during the last decades and is seen as a key mediator of customer relationship marketing. But upon a closer look at the literature, the construct “trust” is conceptualized and measured very differently. Based on a literature review and theoretical work, the purpose of this paper is to develop a conceptual model of consumer trust in a service company, which distinguishes two fundamental dimensions. Using these dimensions, it is possible to detect different mediating effects of trust in the customer relationship to the service company. Design/methodology/approach – Antecedents and consequences of trust are studied in a business-to-consumer services context in the banking industry. To test hypotheses, empirical data are collected from a sample of 232 retail bank customers with checking accounts. By means of a LISREL approach, two rivalling measurement models of trust are compared and show various mediating effects. Findings – The empirical data support the two-dimensional model of trust. Further, the two dimensions of trust are mediating the effect of customer satisfaction (CS) differently. In particular, it is shown that “benevolence” has a significantly greater influence on customer loyalty than “credibility.” Finally, beside CS, the customer's propensity to trust also influences trust. Research limitations/implications – Findings are limited to the cross-sectional design of the study and the financial industry. Practical implications – For the management of consumers' trust perception, the adequate conceptualization and measurement of trust is central. The aspect of benevolence is crucial for creating consumer loyalty and trust as well as the building of customer relationships. Consequently, management should foster activities to signal customers to be benevolent partners (e.g. service guarantees and branding) to ensure a high-quality service experience. Originality/value – In previous research, trust has been often conceptualized and measured in an inconsistent and unequivocal way. In the proposed approach, the two facets of trust are theoretically conceptualized and measured separately. Thus, differentiated effects of antecedents as well as consequences of trust can be detected.
Yu Chao, Gin-Yuan Lee, Yung-Ching Ho, George Maroulis, Theodore E. Simos
COMPUTATIONAL METHODS IN SCIENCE AND ENGINEERING: Advances in Computational Science: Lectures presented at the International Conference on Computational Methods in Sciences and Engineering 2008 (ICCMSE 2008), Volume 1148, pp 497-500; doi:10.1063/1.3225357

Abstract:
The advent of e‐commerce has increased the importance of consumer financing operations. Internet banking helps banks to develop relationship marketing, thus improve customer loyalty. This study proposes a research framework to examine the relationships among e‐service quality, customer satisfaction, customer trust and e‐loyalty in e‐bank in Taiwan. Data are collected through a survey using a structured questionnaire. The 442 valid respondents who have experience with e‐bank are analyzed by partial least squares structural equation modeling (PLS‐SEM) method. The managerial implication is e‐bank must focus on e‐service quality to increase customer satisfaction and trust for obtaining the e‐loyalty.
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