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The Effects of the Value Co-Creation Process on the Consumer and the Company

Author

Listed:
  • Maria Angeles GARCIA HARO

    (University of Castilla-La Mancha, Spain)

  • Maria Pilar MARTINEZ RUIZ

    (University of Castilla-La Mancha, Spain)

  • Ricardo MARTINEZ CANAS

    (University of Castilla-La Mancha, Spain)

Abstract

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.

Suggested Citation

  • Maria Angeles GARCIA HARO & Maria Pilar MARTINEZ RUIZ & Ricardo MARTINEZ CANAS, 2014. "The Effects of the Value Co-Creation Process on the Consumer and the Company," Expert Journal of Marketing, Sprint Investify, vol. 2(2), pages 68-81.
    • Handle: RePEc:exp:mkting:v:5:y:2014:i:2:p:68-81
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    References listed on IDEAS

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    More about this item

    Keywords

    co-creation; open innovation; competitive advantage; social media; consumer; collaboration; technology; customization;
    All these keywords.

    JEL classification:

    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General

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