Co-destruction of value in context: Cases from retail banking

S Worthington, Mark Durkin

Research output: Contribution to journalArticle

421 Citations (Scopus)

Abstract

While both service organisations and consumers can co-create value they canalso co-destroy value. This paper explores the concept of co-destruction of valuethrough the use of case studies from personal retail banking and illustrates suchco-destruction through examples of irresponsible borrowing and irresponsiblelending. A conceptual model is proposed which captures the dyadic relationshipbetween banker and customer and highlights where potential for co-destructionof value can be found with respect to the orientations of bank and customerManagerial implications are discussed.
LanguageEnglish
Pages291-307
Journalthe Marketing Review
Volume12
Issue number3
DOIs
Publication statusPublished - 2012

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Retail banking
Service organization
Borrowing
Conceptual model
Bankers

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title = "Co-destruction of value in context: Cases from retail banking",
abstract = "While both service organisations and consumers can co-create value they canalso co-destroy value. This paper explores the concept of co-destruction of valuethrough the use of case studies from personal retail banking and illustrates suchco-destruction through examples of irresponsible borrowing and irresponsiblelending. A conceptual model is proposed which captures the dyadic relationshipbetween banker and customer and highlights where potential for co-destructionof value can be found with respect to the orientations of bank and customerManagerial implications are discussed.",
author = "S Worthington and Mark Durkin",
note = "Reference text: Annes, B.C. (1970). Industrial Marketing: Trappings versus Substance. Harvard Business Review, 48(4, Summer), 93-102. Baker, M.J. (1993). Bank marketing - myth or reality. International Journal of Bank Marketing, 7/(6), 5-11. Bitner, M.J., Brown, S.W., & Meuter, M.L. (2000). Technology infusion in service encounters. Journal of the Academy of Marketing Science, 28(^ ), 138-149. CCCS Statistical Yearbook (2006). Consumer Credit Counselling Service Statistical Yearbook 2006 (Section 2.2, pp. 6-7) http://vwvw.cccs.co.Uk/Portals/0/ Documents/media/reports/statisticsyearbooks/stats-yearbook-2006.pdf Chuah, S., & Devlin, J. (2011). Behavioural economics and financial services marketing: a review. International Journal of Bank Marketing, 29(6), 456-469. Druss, R.G., & Douglas, C.J. (1988). Adaptive responses to illness and disability: healthy denial. Genera/Hosp/fa/Psych/af/y, 70(3), 163-168. Durkin, M. (2004). In Search of the Internet Banking Customer - Exploring the use of decision-styles. International Journal of Bank Marketing, 22(1), 484-503. Durkin, M. (2007). Ontheroleof bank staff in customer purchasing online. Mar/cef/ng, Intelligence and Planning, 25(1), 82-97. Fry, M., & Polonsky, M. (2004). Examining the unintended consequences of marketing. Journal of Business Research, 57(11 ), 1303-1306. Gwinner, K.P., Grender, D.D., & Bitner, M.J. (1998). Relational benefits in service industries: the customer's perspective. Journal of the Academy of Marketing Science, 26(2), 101-114. Greer, S., Moorey, S., & Watson, M. (1989). Patients' adjustment to cancer: the mental adjustment to cancer (MAC) scale Vs. clinical ratings. Journal of Psychosomatic Research, 33(3), 373-377. Halse, S. (2010, July). The Denial of Debt: understanding money lending in Australia. Unpublished Report, Monash University, Australia. Hirsch, M. (1986). Narcissism and partial lack of reality testing in incestuous fathers. Child Abuse and Neglea, 10(4), 547-549. Howcroft, J.B, Hewer, P., & Durkin, M. (2004). Banker-Customer interactions in financial services. Journal of Marketing Management, 79(9-10), 1001-1020. Howcroft, J.B., Durkin, M., Armstrong, G., & Emerson, E. (2007). Examining Small Business - Bank relationships in an increasingly remote context. Service Industries Journal, 28(1), 941-96-i. Lazarus, R.S. (1983). The costs and benefits of denial. In S. Breznitz, (Ed.), The Denial of Stress (pp. 1-30). New York: International Universities Press. Nam, S., Fielding, K., Avalos, A., Dickinson, D., Gaolathe, T, & Coreissler, P. (2008). The relationship of acceptance or denial of HIV status to antiretroviral adherence among adult HIV patients in urban Botswana. Social Science and Medicine, 67(2), 301-310. Pi{\'e}, L, & C{\'a}ceres, R.C. (2010). Not always co-creation: introducing interactional codestruction of value in service-dominant logic. Journal of Services Marketing, 24(6), 430-437. Prahalad, C.K., & Ramaswamy, V. (2004). Co-creation Experiences: the next practice in va\ue creation. Journal of Interactive Marketing, 18(3), 5-14. Seines, F, & Hansen, H. (2001). The potential hazard of self-service in developing customer loyalty. Journal of Service Research 4(2), 79-90. 306 The Marketing Review, 2012, Vol. 12, No. 3 Taylor, A. (1999). Of denial in chronic drinkers: the elephant in the interview room: working with the process. Probation Journal, 46{1 ), 19-25. Van Dijk, T (1992). Discourse and the Denial of Racism. Discourse Society, 3, 87-117. Vargo, S.L (2011). Market systems, stakeholders and value propositions. European Jourrial of Marketing, 45(1/2). 217-222. Vargo, S.L, & Lusch, R.F. (2004). Evolving to a new dominant logic for marketing. Journal of Marketing, 6S(January), 1-17. Watson, M., Haviland, J.S., Greer, S., Davidson, J., & Bliss, J.M. (1999). Influence of psychological responses on survival in breast cancer: a population based cohort study. Lancet, 354(9187), 1331-1336. Wheatley, M. (2011). Rethinking Investors Protection. JAS5A The Finsia Journal of Applied Finance. 2, 6-10. Worthington, S., Thompson, R, & Stewart, D. (2011). Credit cards in a Chinese cultural context - the young, affluent Chinese as early adopters. Journal of Retailing and Consumer Services, 18, 534-541. Zimmermann, C. (2004). Denial of impending death: a discourse analysis of the palliative care literature. Social Science and Medicine, 59(8), 1769-1780.",
year = "2012",
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Co-destruction of value in context: Cases from retail banking. / Worthington, S; Durkin, Mark.

In: the Marketing Review, Vol. 12, No. 3, 2012, p. 291-307.

Research output: Contribution to journalArticle

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AB - While both service organisations and consumers can co-create value they canalso co-destroy value. This paper explores the concept of co-destruction of valuethrough the use of case studies from personal retail banking and illustrates suchco-destruction through examples of irresponsible borrowing and irresponsiblelending. A conceptual model is proposed which captures the dyadic relationshipbetween banker and customer and highlights where potential for co-destructionof value can be found with respect to the orientations of bank and customerManagerial implications are discussed.

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