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Forum

Value Creation in a Changing Customer and Media Environment



The revolution in communications and media technology (e.g. mobile technologies, large-scale analytics, online social network structures, cloud computing, etc.) generates a massive amount of information for both customers and companies that are easily and rapidly accessible. This digital transformation of economic and societal systems has important implications for how value is generated and appropriated in those systems. In addition, the global integration of financial markets has increased the importance of investors for business decisions in general. As a result, management is increasingly being held accountable for activities such as advertising campaigns for which the financial impact is hard to show.

Several key changes result from these developments. First, stakeholders dispose of an unprecedented level of transparency from using interconnected new media. Second, business functions have to demonstrate how their decisions enhance the firm’s value. Third, customers become active agents in previously more or less proprietary organizational value chains. Finally, strategic resource (re)allocation is subject to global scope, high velocity, and multiplex cause-effect mechanisms. In consequence, this leads to a fundamental change in the way how organizations execute their value creation process and objectives, their interface and their relationship with customers and stakeholders, and their resource allocation processes.

The research initiative „Value Creation in a Changing Customer and Media Environment“ aims to build a strong research network that blends expertise from marketing/business administration with adjacent domains to address the important research questions that evolve from this background. These research questions revolve around (a) the impact of new Internet technologies on customer’s information processing, decision-making, media consumption and purchase behavior, (b) the mechanisms by which customers co-create innovative products and services, (c) the allocation of and return from resources in digital and other media environments, (d) the role and evolution of brands in digital environments, and (e) firms’ response in terms of business strategy in general and marketing mix decisions in particular. Overall, this theme is subject to strong public visibility and high managerial interest. The research projects within the Forum context will be approached in an interdisciplinary fashion and with both local and global cooperations - including a new research seminar series, focused workshops, and additional doctoral courses.

Further Information



Speaker

Prof. Dr. Marc Fischer, Chair for Marketing and Market Research

Participating Researchers

Coordination

Birte Terlinden, Chair for Marketing and Market Research
Phone: +49 (221) 470 8681; Email: terlinden(at)wiso.uni-koeln.de