Social media based value creation and business models

Abstract

Purpose-The purpose of the study is to create an organized picture of the current understanding of social media-based value creation and business models. Design/methodology/approach-Following the process model presented by Fink (2005), a systematic literature review of academic journal articles published between 2005 and 2014 was conducted. The research was grounded on the theoretical foundations of service-dominant logic. Findings-This study offers detailed descriptions and analyses of the major social media mechanisms affecting how value is created in social media-based value networks and the kinds of impacts social media can have on present and future business models. Research limitations/implications-The study is limited to academic research literature on business organizations, excluding all studies related to public and non-profit organizations. Practical implications-Attention is given to developing an in-depth understanding of the functions and concrete value creation mechanisms of social media-based co-creation within the different organizational processes (e.g., in product and service development and customer services) and to updating the related practices and knowledge. Originality/value-This study provides new insight into the challenges related to research models and frameworks commonly used for observing value creation, thus highlighting the need for further studies and updates.

Leveraging social network sites for new product launch

“…This is not too dissimilar to the idea of stratification in which a researcher targets a particular sub-population within the wider population as a whole, for example, by way of a specific channel (e.g., social media, network connections) (Patton, 2002;Tashakkori & Teddlie, 2003). While appreciating the need for a representative sample, we realized that the key demand for the work rested not in the ability to generalize to a population but rather to generalize to theory, because it is the absence of such theoretical framing that has held researchers and managers back from being able to understand why the phenomenon of poor returns from social media activity is so apparent among firms (e.g., Ketonen-Oksi et al, 2016;Marion et al, 2016;Roberts & Candi, 2014;Roberts & Pillar, 2016). Hence, we sought to reach a broad group of people and broadcasted requests widely, adopting a purposive element.…”

An overview of systematic literature reviews in social media marketing

“…On audiences, Baethge et al [26] seek to inform not only researchers and practitioners, but also editors, and reviewers, by providing them with an account of the current state-of- Other authors seek to draw together a fragmented research literature. For example, Ketonen-Oksi et al [28], in their review of social media-based value creation, seek to make sense of a 'research literature … [that is] still fragmented into case studies of various microlevel study contexts' (p.2). Zhang and Benyoucef [29] suggest that in respect of consumer behaviour in social commerce, 'current research is rather fragmented, which makes it difficult to derive meaningful and conclusive implications' (p.95).…”

“…Ketonen-Oksi et al [28], who refer to service-dominant logic, and Zhang and Benyoucef [29] who refer to the stimulus-organism-response model. On the other hand, Lamberton and…”

“…Inclusion criteria typically involve: full-text available, published within the selected period of time, relevant to the topic of the review, listed in the selected databases, and written in English [24,28]. Duplicates are eliminated from the dataset.…”

“…More specific details on the topics mentioned under each of the themes are discussed below. Abed et al [30] Ahmed et al [28] Alawan et al [16] Alves et al [29] Baethge et al [23] Busalim et al [21] Effing and Spil [20] Ketonen-Oksi et al [25] King et al [24] Lamberton and Stephen [19] Ngai et al [27] Salo [22] Zhang and Benyoucef, [26] Count Social Media Practice and Strategy X X X X X X X X X X 10…”