Research - IWM
Our research focuses on how firms can create value to their customers and ultimately value to the firm through products and services (value equity) and their customer relationship management efforts (relationship equity). We are especially interested in new business opportunities in digitalized environments. Below you find the information about some recent research projects.
Gamification in Value Co-Creation
Marketing landscapes are changing nowadays and customer centricity and value co-creation have become buzzwords in many industries. Leading companies like Google, Amazon and Nike base their successful businesses on continuous customer-firm interactions. Firms can no longer act autonomously and must realize that they are not the sole providers of value. Yet to be successful, active customers who provide feedback and other data are necessary. Hence, working together with customers and co-creating value has become a competitive advantage. In contrast, customers become more demanding. For firms it is critically important to encourage their customers to become and stay active in the process of value co-creation.
Yet, convincing customers to take part in the process of value creation is rather challenging. We assume that gamification might stimulate active customer participation in co-creation processes. Gamification describes the implementation of game design elements in non-game contexts. This can be done through, for example, rewarding of points or badges as well as through leaderboards. Previous studies have examined the influence of gamification on customer behavior. However, an investigation of the effectiveness of different gamification elements in the long run is still missing. We aim to examine the long-term effectiveness of gamification elements on stimulating and maintaining high levels of customer participation in value co-creation.
Prof. Dr. Thorsten Wiesel, Dr. Sonja Gensler, Charlotte Hufnagel
Contact person: Charlotte Hufnagel
Recommendation Systems in Marketing
Every day we make numerous of choices – often without limited information about the available alternatives. To deal with this kind of insecurity we often rely on decision aids. Recommendation systems represent one popular type of such decision aids. Recommendation systems suggest items that are of potential interest for us. Companies like Amazon, Google, and Netflix base substantial parts of their business on recommender systems. Especially online retailers use their own recommendation systems to nudge shoppers towards relevant products customers are potentially not aware of.
However, more and more customers complain about ‘unsurprising’ recommendations like recommending ‘Harry Potter And The Chamber Of Secrets’ if a customer has bought ‘Harry Potter and the Sorcerer's Stone’ previously. We develop an innovative recommendation system that aims to enhance not only customers’ satisfaction with the system but also with their ultimate choices.
Prof. Dr. Thorsten Wiesel, Dr. Sonja Gensler, Fabian Kraut
Contact person: Fabian Kraut
Eye Tracking Lab
The Institute for Value-Based Marketing has had an eye-tracking lab since August 2013.
Funds have been invested in new research projects which are currently under way at the Institute for Value-Based Marketing. Some of the money has been spent on eye-tracking devices which can be used in consumer research (both in e-commerce and in situations where consumers are moving around). We have purchased a mobile eye tracker (SMI RED-m Remote) which functions in conjunction with a laptop or a desktop computer, and we have also acquired a few pairs of eye tracking glasses which a test subject can wear while moving around. The Institute for Value-Based Marketing has already begun work on research projects in which the eye tracker is being used to collect data.
Would you like to take part in one of our experiments as a guinea pig? Or would you like to join our research team? If so, we'd be delighted to hear from you.
Contact person: Prof. Dr. Thorsten Wiesel