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Using a Virtual Store As a Research Tool to Investigate Consumer In-store Behavior
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Value Co-creation in Third-Party Managed Virtual Communities and Brand Equity.

Natalia Rubio1, Nieves Villaseñor1, MªJesús Yagüe1

  • 1Finance and Marketing Department, Universidad Autónoma de Madrid, Madrid, Spain.

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|June 16, 2020
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Summary

This paper clarifies the concept of value co-creation in Marketing 4.0. It addresses terminological ambiguity and different applications of co-creation in research.

Keywords:
brand equityco-creationco-innovationvaluevirtual community

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Area of Science:

  • Marketing
  • Business Administration

Background:

  • Value co-creation is central to Marketing 4.0, yet research shows terminological ambiguity.
  • Terms like co-innovation and co-production are often used interchangeably with co-creation, despite subtle differences.
  • The co-creation concept is applied to diverse research areas, including brand value, customer experience, and attitudes, leading to confusion.

Purpose of the Study:

  • To clarify the concept of value co-creation.
  • To address the ambiguity in terminology and application within Marketing 4.0 research.
  • To provide a foundational understanding for future studies on value co-creation.

Main Methods:

  • Literature review of existing research on value co-creation.
  • Analysis of terminological variations and conceptual overlaps.
  • Examination of different contexts where value co-creation is applied.

Main Results:

  • Identified significant ambiguity in the definition and application of value co-creation.
  • Highlighted the need to differentiate co-creation from related concepts like co-innovation and co-production.
  • Demonstrated the broad and varied scope of value co-creation studies.

Conclusions:

  • A clearer, unified understanding of value co-creation is needed for Marketing 4.0.
  • Distinguishing co-creation from similar concepts will enhance research precision.
  • Standardizing the application of co-creation across different study objects is crucial for academic progress.