VALUE CREATION AND CUSTOMER ENGAGEMENT OF MANUFACTURING FIRMS IN PORT HARCOURT
Miyene Charles Tom
Department of Marketing, Ignatius Ajuru University of Education, Rivers State, Nigeria
Application of value span across all fields of human endeavor hence, value creation becomes indispensible factor in business coordination. Value creation is being advanced as a strategic tool in customer engagement, however persistent rise in production cost and other variable factors in the manufacturing industry had decreased value creation efforts with consequences on product quality, technology adoption, customer relationship management, etc. which is generating increasing concern. This research investigates the relationship between value creation and customer engagement in manufacturing firms in Port Harcourt. The study adopted quantitative research design using a survey method. A total of 213 subjects made of managers and staff of manufacturing firms in Port Harcourt were surveyed through questionnaire administration. Three research questions were posed and six hypotheses were tested. Data analysis was done using descriptive statistics of mean and standard deviation while inferential statistics of Multiple Regression was used to test the stated hypotheses on SPSS version 25. Results from the Multiple Regression analysis reveal a very strong significant linear relationship between Product Innovation, Advance Technology Adoption, improved customer relationship management and customer engagement measures; word-of-mouth behavior and customer loyalty. It was concluded that value creation significantly relates with customer engagement in manufacturing firms in Port Harcourt. The study therefore recommends that: The manufacturing firms in Port Harcourt should co-create products contents by incorporating customer’s suggestions and contribution in product manufacturing. The manufacturing firms in Port Harcourt should operate modern production facilities to maintain quality outputs and engaging customers through information and communication technologies. And that the manufacturing firms in Port Harcourt should establish functional relationship with customers by popularizing their social media platforms where every concern raised will be satisfactorily resolved.
Keywords: Value Creation, Customer Engagement, Manufacturing Firms
Tom, M.C (2021). Value Creation and Customer Engagement of Manufacturing Firms in Port Harcourt. African Journal of Business and Economic Development, 1(12), 80-102. Available online at: https://www.ijaar.org/articles/ajbed/v1n12/ajbed-v1n12-Dec21-p11213.pdf