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

In: Co-Creation

Author

Listed:
  • Stefan Vorbach

    (Graz University of Technology)

  • Christiana Müller

    (Graz University of Technology)

  • Elisabeth Poandl

    (Graz University of Technology)

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.

Suggested Citation

  • Stefan Vorbach & Christiana Müller & Elisabeth Poandl, 2019. "Co-creation of Value Proposition: Stakeholders Co-creating Value Propositions of Goods and Services," Management for Professionals, in: Tobias Redlich & Manuel Moritz & Jens P. Wulfsberg (ed.), Co-Creation, pages 51-62, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-319-97788-1_5
    DOI: 10.1007/978-3-319-97788-1_5
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