Effect of value co-creation on customer satisfaction: the mediating role of brand equity

ABSTRACT

Value co-creation (VCC) appears as one of the key trends in marketing and management to reactivate the connection with customers. The main objective of this study is to analyze the chain of direct effects: VCC -> Brand Equity (BE) -> Customer Satisfaction (SAT). Furthermore, this research attempts to assess whether, in this chain of effects, there may be an interaction between both antecedent variables (VCC and BE) that enhances the understanding of satisfaction, and contrast the overall model for two segments: customers who booked the hotel through a traditional offline travel agency versus customers who booked online. The model is tested using PLS technique. Data was collected from 575 customers of four-star hotels in Majorca (Spain). Results reinforce the key importance of branding strategies in hotel management while showing that the channel of distribution partially moderates the relationships. Theoretical contribution and managerial implications are discussed.

价值共创（VCC）似乎是市场营销和管理中重新激活与客户联系的关键趋势之一. 本研究的主要目的是分析直接影响链VCC->品牌资产（BE）->客户满意度（SAT）. 此外，这项研究试图评估在这一影响链中，两个先前变量（VCC和be）之间是否存在相互作用，从而增强对满意度的理解，并对比两个细分市场的总体模型通过传统线下旅行社预订酒店的客户与在线预订的客户。使用PLS技术对模型进行了测试. 数据收集自西班牙马略卡岛四星级酒店的575名顾客. 结果强调了品牌战略在酒店管理中的关键重要性，同时表明分销渠道部分地调节了关系. 讨论了理论贡献和管理意义.

KEYWORDS:

• Value co-creation
• brand equity
• hospitality
• customer satisfaction

Acknowledgments

This research has been developed within the framework of the project Grant PID2020-112660RB-I00 funded by MCIN/AEI/10.13039/501100011033, the Grant for consolidated research group AICO/2021/144 funded by the Conselleria d’Innovació, Universitats, Ciència i Societat Digital of the Generalitat Valenciana and the Funding for Special Research Actions of Universitat de València (Reference no.: UV-INV-AE-1553911).

Disclosure statement

No potential conflict of interest was reported by the authors.

Additional information

Funding

This work was supported by the Conselleria de Innovación, Universidades, Ciencia y Sociedad Digital, Generalitat Valenciana [AICO/2021/144]; Spanish Ministry of Science and Innovation [PID2020-112660RB-100]; Universitat de València [UV-INV-AE-1553911].