The social network of the customer affects the prestige value of the service products
Tekes – the Finnish Funding Agency for Technology and Innovation has awarded competitive funding amounting to €580,000 to University of Vaasa and its partners for a two-year project on "Valuable, Intangible and Prestigious Service Experiences".
The project examines the role and nature of prestige-based experiences in customers’ value-creation processes. Prestige refers to socially constructed value that represents an image that is congruent with the values and norms of the customer’s associates and/or the social image that the customer wishes to project. A profound understanding of prestige and its determinants could have major implications for strategic management, and provide a viable alternative, or complement, to the cost or technology driven strategies of many Finnish firms.
The project commences in August 2012 and it is conducted in partnership with the University of Vaasa (Finland) and Victoria University (Australia). Project directors are Dr Teemu Kautonen (TSE) and Dr Henri Hakala (University of Vaasa).
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