Co-creation of Value Proposition: Stakeholders Co-creating Value Propositions of Goods and Services

Stefan Vorbach (), Christiana Müller () and Elisabeth Poandl ()
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Stefan Vorbach: Graz University of Technology
Christiana Müller: Graz University of Technology
Elisabeth Poandl: Graz University of Technology

A chapter in Co-Creation, 2019, pp 51-62 from Springer

Abstract: Abstract Co-creation has evolved into a powerful concept in theory as well as in practice. Customers and other stakeholders are increasingly involved in the process of innovation and learning. Additionally, the value proposition is a main element of the business model that describes the promise delivered to the customer. As the interaction between companies and their stakeholders increase, value is co-created increasingly. Within this process, stakeholders should also take an active part in shaping offerings and experiences and, thus, become co-creators of value propositions. This chapter combines the co-creation concept with the up-coming value proposition paradigm, which has become popular in business model management and marketing. By describing the concepts of co-creation, value proposition and at least the co-creation of value proposition, managers gain a better understanding of these approaches. This is underpinned by practical examples. To show how the co-creation of value proposition can be implemented in practice, we describe a process of value proposition co-creation in detail.

Keywords: Co-creation; Value proposition; Value and process framework (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-319-97788-1_5

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DOI: 10.1007/978-3-319-97788-1_5

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