Applying customer equity to the convention industry

Abstract

Purpose The purpose of this study is to determine the value a convention center provides its customers, the brand the center offers, and the importance of the customer/business relationship. Value, brand, and relationship equity (RE) are components of customer equity (CE). Design/methodology/approach Interviews were conducted with meeting planners related to their experiences with top‐tier convention centers in the USA. Findings Meeting planners confirmed value equity (VE) as the most important in the customer to business exchange. RE followed with brand equity (BE) as the least important of the three. Meeting planners identified the sub‐drivers of VE as location, quality and price received from the convention center. BE sub‐drivers included: reputation and the awareness of the convention center. RE sub‐drivers included: the interactions, responsiveness, and special treatment received from the convention center personnel. A CE model is presented. Practical implications The application of the CE model to the convention center's strategic planning process can provide a roadmap for increasing CE across value, brand and relationship activities. Originality/value This is the first study to identify the drivers and sub‐drivers of CE in the convention industry.

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