PROCESSES OF CUSTOMER VALUE CREATION AND RELATIONSHIP DEVELOPMENT INTEGRATION POSSIBILITIES Cover Image

Vertės vartotojui kūrimo ir santykių su vartotojais vystymo procesų integravimo galimybių tyrimas
PROCESSES OF CUSTOMER VALUE CREATION AND RELATIONSHIP DEVELOPMENT INTEGRATION POSSIBILITIES

Author(s): Vestina Pilibaitytė, Rimgailė Vaitkienė
Subject(s): Economy
Published by: Vytauto Didžiojo Universitetas
Keywords: vertė vartotojui; vertės vartotojui kūrimo procesas; santykių gyvavimo ciklas; santykių marketingas; consumer perceived value; relationship marketing; consumer perceived value creation process; relationship life cycle.

Summary/Abstract: Scientific literature analysis has showed that consumer perceived value is created within the organization and consumer relationship life cycle. The authors have surveyed the following links between the customer perceived value creation and relationship development process: - Consumer perceived value can be understood as the ratio between the profit received by the consumer and the consumer expenditure for purchasing the product. The profit received by the consumer includes tangible and intangible product attributes and the profit of relationship maintenance with the selling organization. Meanwhile the consumer expenditure consists of monetary and nonmonetary expenses for purchasing the product and relationship expenses that originate from the long term relationship maintained between the consumer and the organization. - Relationship marketing in its nature is a process that encompasses the initiation, creation, development and maintenance of relationship with consumers (or other interested parties) seeking to create value for both interacting parties. - The process of consumer perceived value within the context of relationship marketing is oriented towards the creation of a greater consumer perceived value. The organization, seeking to create a greater consumer perceived value, should find out how consumers perceive value (value establishment), classify them into segments according to consumer value preferences, present a product offer in accordance with their value expectations (value creation), communicate the competitive ability of the created value in the market (value communication) and perform consumer satisfaction surveys (value estimation). The performed theoretical analysis has revealed the following hypothetical links existing in between the stages of consumer relationship life cycle and the stages of consumer perceived value creation: H1: The result of consumer relationship initiation is the establishment of consumer value needs and expectations; H2: The result of consumer relationship creation is consumer perceived value creation from the main product; H3: The result of consumer relationship maintenance is the creation of the additional consumer perceived value; H4: The market exclusivity of the product offered by the company is communicated in the consumer relationship maintenance stage; H5: The result of each stage of relationship life cycle is the evaluation of the created and developed value perceived by the consumer. The main objective of this article was to verify customer value creation and relationship development processes’ integration possibilities. Methodology. The model which integrates the above-mentioned processes was verified by using the method of assessment by the experts. Ten marketing and sales managers from different organizations were the experts interviewed in the study. However, in order to ensure the experts’ answers to be presentable, first they were asked about the company’

  • Issue Year: 2009
  • Issue No: 50
  • Page Range: 109-125
  • Page Count: 17
  • Language: Lithuanian