The Effects of the Value Co-Creation Process on the Consumer and the Company
Maria Angeles GARCIA Haro,
María Pilar Martínez-Ruiz () and
Ricardo MARTINEZ Canas
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Maria Angeles GARCIA Haro: University of Castilla-La Mancha, Spain
Ricardo MARTINEZ Canas: University of Castilla-La Mancha, Spain
Expert Journal of Marketing, 2014, vol. 2, issue 2, 68-81
This article analyzes the concept of value co-creation, which has arisen due to the combination of various modern influences - including economic globalization, changes in consumers’ buying habits, and the emergence of the Internet and social media - that have changed the way companies innovate. These factors also have transformed the traditional marketing paradigm, such that companies must continually innovate to create and maintain long-term relationships with their consumers and thus competitive advantages. This study analyzes practices of co-creation and seeks to establish a theoretical research framework; the authors also identify the key effects and results of co-creation activities for both companies and consumers. By integrating situational and moderating variables, the proposed theoretical model covers multiple dimensions and offers a comprehensive approach to the topic.
Keywords: co-creation; open innovation; competitive advantage; social media; consumer; collaboration; technology; customization (search for similar items in EconPapers)
JEL-codes: M30 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:exp:mkting:v:5:y:2014:i:2:p:68-81
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