An Empirical Study On The Influence Of Consumer Participation In Value Co-creation On Consumer Loyalty

The essence of an enterprise is the creation of value.With the advent of the Internet economy,enterprises and consumers jointly create value(value co-creation)has become the basis for the creation of value.With the rapid development of the Internet,the acquisition and transmission of information is more convenient and faster,and it has rapidly improved the ability of consumers to learn and evolve.Consumers have the ability and maturity to participate in the creation of corporate values.At the same time,consumer participation in corporate value creation activities can increase the stickiness of consumers and enterprise and foster and maintain consumer loyalty.Therefore,it has become an important issue to study how consumers participate in value co-creation,and how consumer participation behavior in value co-creation affects loyalty.Based on the status quo of the development of automobile service industry in China,this article attempts to explore the factors that influence the value of consumer participation in co-creation by sorting out the theoretical literature of domestic and foreign scholars.Through theoretical model exploration,this paper will deeply analyze the relationship between participation behavior and consumer trust and consumer loyalty.The article begins with the theoretical basis and realistic conditions of consumer participation in value co-creation,and reviews the research on the value co-creation of consumers participating in the enterprise.To clarify how consumer willingness,consumer ability,and company openness influence participation behavior,and how consumer engagement behavior affects consumer loyalty.In this series of relationships,analyze the role of consumer trust.According to whether the co-creation of participation value occurred,consumer trust can be divided into initial trust and continuous trust.Design questionnaires to collect primary data and use SPSS 20.0 statistical software to analyze the collected 672 valid data.The empirical results show the following conclusions: consumer willingness has a positive impact on participation behavior;consumer ability has a positive impact on participation behavior;enterprises openness has a positive impact on participation behavior;consumer willingness has a positive impact on consumer loyalty;participation behavior plays an intermediary role between consumer willingness and consumer loyalty;initial trust has a positive moderating effect to the relationship between enterprise openness and participation behavior;continuous trust has a positive moderating effect to the relationship between participation behavior and consumer loyalty.The innovations of this research are as follow: Subdivide consumer trust into initial trust and continuous trust,and discuss its influence in different stages of consumer participation in value co-creation activities.Secondly,the factors that influence consumer participation behavior are systematically analyzed from both consumer and business perspectives.Through empirical tests,the degree of influence of various factors on participation behavior and consumer loyalty is demonstrated,which can help provide reference for service providers in the automotive aftermarket,and can also provide references for achieving efficient connection between pre-installation and post-market,and promote a virtuous cycle of the automotive service industry.At the same time,it can guide enterprises to use the Internet more scientifically to introduce consumers to participate in their value co-creation activities,thereby enhancing consumers' trust and goodwill towards enterprises,and increasing consumer loyalty,so as to increase the market competitiveness of enterprises in the wave of Internet age.