The influence of culture on willingness to co-create in the retail-banking sector: An explanatory cross-cultural study on Italian and Turkish young customers

Alia Nastari & Caterina Pisetta

Student thesis: Master thesis


ABSTRACT: Marketing strategy increasingly encourages brands to facilitate and support consumers’ co-creative initiatives, to counter-act the deterioration in consumers’ attitude at the outset of 2007’s financial crisis. Nevertheless, a recipe for successful implementation of the co-creation mantra is lacking. Our work focuses on the banking sector, where the necessity of (re)-building a strong dialogue with the customer is particularly felt. The focal aim is to enrich the managerial agenda, by empirically testing the likelihood of banks’ customers to engage in co-creation, accounting for the influence of national culture on customers’ background. Specifically, the investigation is focused on young consumers, as a segment that is particularly representative of the networked and glocal society that characterizes consumption patterns and communicative interaction in the current economic system. Lacking a sound theoretical framework, due to the absence of previous academic literature and empirical studies on the subject, we propose our own theoretical model, encompassing national culture as the independent variable and willingness to co-create as the dependent one. The research is explanatory in nature, and portrayed by means of quantitative as well as qualitative methods, namely a questionnaire and a series of in-depth interviews, testing the main motivators for engagement in bank co-creation and the national cultural environment, in Italy and Turkey. Findings of the research conducted support the mediating influence of national cultural variables on the presence of a co-creation prone mind-set and, consequently, its relevance in companies’ approach to co-creation initiatives. Namely, our work shows how co-creation represents a powerful marketing strategy for banks to approach younger customers especially. In fact, when coupled with the awareness of national markets' existing cultural differences, co-creation can provide banks with the appropriate tools to increase the efficacy and efficiency of the service offer, and create the basis for (or consolidate) a sustainable competitive advantage. Keywords: co-creation, willingness to co-create, Service-Dominant logic, cross-cultural study, value, value creation, retail banking, explanatory research, consumer behaviorism, sustainable competitive advantage.

EducationsMSc in Brand and Communications Management, (Graduate Programme) Final Thesis
Publication date2014
Number of pages131