Co-production and customer loyalty in financial services

Recent developments in marketing thought and practice highlight the opportunities that co-production of services provide for creating customer value. The authors propose a model of co-production with which they investigate the links between co-production and customer loyalty and the factors likely to increase the level of co-production in a financial services context, with support from an investigation in the medical services context. Further, the authors consider the relationships of customer expertise, customer - advisor communication, customer affective commitment, and interactional justice with the level of co-production. On the basis of testing with a sample of 1,197 customers of a large multinational financial services organization and 100 patients of medical services, the model is partially supported. Therefore, the authors suggest that co-production may have an important role as a basis for competition in the financial services industry.