Open AccessPower in Value Cocreation Process: The Emergence of a New Dimension
Author(s) -
Diana Escandón-Barbosa,
Jairo Salas,
Josep Rialp Criado,
Maria del Camen Alarcon del Amo
Publication year - 2021
Publication title -
global business review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.419
H-Index - 25
eISSN - 0973-0664
pISSN - 0972-1509
DOI - 10.1177/09721509211060198
Subject(s) - confirmatory factor analysis , dimension (graph theory) , value (mathematics) , personalization , identification (biology) , psychology , marketing , field (mathematics) , scale (ratio) , social psychology , computer science , business , mathematics , botany , physics , quantum mechanics , machine learning , pure mathematics , biology , service (business)
There are different scales to measure value cocreation, but it still has no consensus about its uses. In this way, the aims to validate a multidimensional scale with seven factors related to individual characteristics and consumer behaviour included a new emerging dimension inside individual characteristics that are relevant to analyse value cocreation: power importance. The measurement instrument was developed, validated and tested using 1,300 Colombian and Vietnam consumers. For the final analysis, a confirmatory factor analysis was used, resulting in an adjusted and reliable multidimensional model. The results suggest seven dimensions (personal interaction, feedback, helping, tolerance, learning, personalization and power importance). Regarding the power importance that includes items that are related to the way in which consumers develop emotions at the moment of influencing others (authority, social recognized, wellness and monetary retribution). Finally, the present study contributes to the literature on value cocreation through the identification of a key aspect in the interaction between the company and the consumer. This term has recently attracted the attention of scholars and that has been little explored in the field of consumer behaviour.