Value in acquisition shaped by Customer Experience : a study of syndicate groups influence on the student experience and overall perceived MBA value

Abstract

This study explored value co-creation during the acquisition process of a credence good by undertaking the study of MBA student experiences when interacting in syndicate groups. The study utilised exploratory research with in-depth qualitative interviews by applying the critical incident technique to analyse positive and negative experiences that occurred during the acquisition of the MBA qualification. Insights were generated concerning how syndicate groups contribute to the value creation process and outcomes perceived by MBA students, further offering propositions for future research that will contribute to theory on the value creation process.Findings of this study indicated that MBA students in South Africa believe that syndicate interactions added more value for personal development than academic development. The extent of such development can be improved or influenced by group diversity as well as by the format provided by the institution to support the interactions. The findings of this study concerning the role of consumers in value creation during the acquisition process of credence goods, contributed to the literature on value cocreation and on credence goods. It was found that consumers have a much more active role to play in value creation during the acquisition process of a credence good, than was purported in the literature supporting this study.