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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.
Frontiers in Psychology
|June 16, 2020
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.
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.
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