THE science behind the concept of CUSTOMERS AS THE VALUE CO-CREATOR IN INDUSTRY 4.0

Abstract

Adapting services to a digital setting won't only expand affluence but also originate customer- oriented value creation, this could be an imperative feature for companies to grow a competitive advantage in the forthcoming era. Essentially, this study will help us investigate the impact of evolving digital age on the customer as the value cocreator and drive not only augment expediency but also lead companies to gain a competitive benefit in the future. Methodology & Design The research is Quantitative research designs can be divided into two main categories: Regression and descriptive designs are used to investigate characteristics, averages, trends, and associations between variables. Since, the argumentation is based on the already developed service dominant logic and servitization involving customer as a value co-creator that It starts when you brainstorm the topic of research. Then it focuses on more specific theories to be examined. Therefore, the research is based on deductive reasoning. Findings A servitization concept that develops a genuine “value cocreation” to the customers and then provide value added services can produce potential outcomes in terms of revenue and customer value journey. Particular attention for how and when to gauge the effects of servitization on customer value journey is critical in long run due to continuous transformation in the technology and changing market needs with the industry revolution. Considering the fundamental structure, business can create product service systems, where a product-service system is defined as “an integrated product and service offering that delivers value in use” most appropriate to infuse more customer value cocreation. Limitations Due to the limited time and the situation of novel Corona pandemic, less population size was lack of generalizability in results. The targeted for the collection of data, so there was availability and motivation of people to fill questionnaire was extremely low therefore we were targeted audience. Also, the study includes lack of unable to approach our maximum instruments that the data was gathered only by (questionnaire). Recommendations 77163 using the single kind of instrument Although this study develops our learning on the “The concept of customers as value co-creator in industry 4.0 , there is still a margin for further research. All the preventive taken to assure the “objectivity”, “reliability”, and “validity” of the research, yet certain limitations were discovered. These restrictions were considered for any future references with respect to the “findings” and implications of the study