Impact of Content Marketing Values on Brand Value Co-Creation Effect: A Study on The Lubricant Industry in Sri Lanka

Abstract

The main objective of this study is to identify the relationship between content marketing values and brand value co-creation effect in the Lubricants industry in Sri Lanka. The concept of this study is still the less examined concept, as claimed in empirical research. There are studies found indirectly and directly examine those concepts in a different market but still require further investigation in the lubricant industry. The value co-creation of customer participation is essential for the institution to achieve commercial value and sustain itself in the market. Content marketing is also a powerful communication tool for assisting consumers in making decisions, enhancing brand image, establishing trust, and establishing long-term connections while creating value co-creation. Accordingly, this paper attempts to study the concept of content marketing values and brand value co-creation to verify how the consumer is used to reconnecting with the brand.The positivism philosophy view that only 'factual' knowledge gained through observation, including measurement, is trustworthy. This research proposes to follow the positivism paradigm as the research philosophy since it discusses the existing theoretical and empirical arguments. Thus, a deductive approach will follow to present the empirical relationships proposing future research plans. The research tool will be based on a questionnaire developed using literature reviews and associated journal articles, book chapters, and industry publications to review the theoretical and empirical justifications while revealing industry-related rationales (Anggraini, 2018; Becerra & Badrinarayanan, 2013; Becerra & Korgaonkar, 2011; Lou et al., 2019; Shaari & Shafinaz, 2016; Sharma et al., 2021). Responces were selected based on the convenient sampling method, mainly through the DBA students of the University of Kelaniya. Altogether 128 questionnaires were distributed through a google form, and 128 completed questionnaires were taken into the final analysis. The sample comprised a higher proportion of male respondents (78.9 percent) than female respondents (21.1 percent). As per the age distribution, most respondents (78.9 percent) were aged between 31 and 50. Therefore, the demographic structure of the sample was sufficient to examine the research issue of the given context.It reveals a strong positive correlation between content marketing values with brand value co-creation. The analysis correlation statics of 0.683 demonstrates a significantly strong relationship between content marketing values and brand value co-creation. Lubricant industry marketers can deliver tangible benefits to customers by providing relevant, informative, and entertaining content that helps to develop brand value co-creation.According to the survey data referring to the author's screening question, customers are following the service provider's word-of-mouth referrals (55.5 %) other than content marketing values to create brand value co-creation.This study has certain limitations, such as the survey was not conducted on the whole island. We ignore Sri Lanka's digital literacy rates, digital resource distribution parity, and present economic factors.The value co-creation theory connects the theoretical framework with practical issues in the industry to identify the reality of the industry. Multinational companies that import lubricants have more content to market their products. They gradually use digital content values to create the brand value co-creation effect. Nevertheless, local blenders are only attacking to price-conscious market; they are fewer content creators to build brand values. Marketers need to identify the correct content and product portfolios to create the brand value co-creation effects to market lubricant brands in the Sri Lankan market. According to the analysis, researchers have to do more research related to digital content marketing and word-of-mouth recommendations.