Exploring Customer Perceptions of Business Model Innovation in Family Economic Groups: Evidence from Ecuador

Ana Belén Tulcanaza-Prieto (), Alexandra Cortez-Ordoñez, Jairo Rivera and Chang Won Lee
Additional contact information
Ana Belén Tulcanaza-Prieto: Grupo de Investigación Negocios, Economía, Organizaciones, y Sociedad (NEOS), Escuela de Negocios, Universidad de Las Américas (UDLA), Quito 170124, Ecuador
Alexandra Cortez-Ordoñez: ViRVIG Group, Department of Computer Science, Universidad Politécnica de Catalunya, 08034 Barcelona, Spain
Jairo Rivera: Área Académica de Gestión, Universidad Andina Simón Bolívar, Quito 170525, Ecuador
Chang Won Lee: School of Business, Hanyang University, Seoul 04763, Republic of Korea

Sustainability, 2025, vol. 17, issue 19, 1-25

Abstract: This study investigates the determinants of customers’ perception of business model innovation (BMI) and its impact on customer satisfaction (CS), customer loyalty (CL), and firm sustainability (FS) within Ecuadorian family economic groups (EFEGs). It also examines the moderating role of perceived BMI in the relationships between CS, CL, and FS. Data were collected through an online survey yielding 342 valid responses, using a structured instrument that included socio-demographic variables, perceived EFEG characteristics, and nine validated constructs. Reliability and validity were corroborated through exploratory and confirmatory factor analyses, while structural equation modeling (SEM) and multiple regression analyses were employed to test the proposed relationships. The results reveal that socially responsible consumption (SRC), technological/digital customer skills (TCS), value creation innovativeness (VCrI), value proposition innovativeness (VPI), and value capture innovativeness (VCI) significantly influence customers’ perception of BMI. In turn, BMI positively influences CS, CL, and FS, and moderates the relationships between CS and FS, and CL and FS, though it does not significantly moderate the CS–CL relationship. These findings are consistent with previous research on European family firms, emphasizing the relevance of innovation capabilities, entrepreneurial orientation, and socioemotional wealth in enhancing adaptability and performance in family-owned businesses. This study contributes novel empirical evidence on BMI in the context of an emerging economy dominated by family firms. It underscores BMI as a dynamic capability crucial for fostering customer engagement, improving competitiveness, and ensuring long-term sustainability. Managerial implications suggest that EFEG managers should prioritize digital integration, service innovation, and transparency to strengthen customer trust and loyalty. Future research should broaden the scope to include other Latin American contexts, integrate internal organizational perspectives, and explore intergenerational dynamics and digital transformation processes to deepen understanding of BMI in family business ecosystems.

Keywords: family business; customer experience; dynamic capabilities; technological competence; innovation adoption; emerging economies (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/17/19/8793/pdf (application/pdf)
https://www.mdpi.com/2071-1050/17/19/8793/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:17:y:2025:i:19:p:8793-:d:1762164

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().