A Conceptual Framework For Value Co-Creation Model As Business Model Strategy

Traditional companies used to design products, evaluate marketing messages and control product distribution channels with no costumer contribution. with the advancements in interaction technologies, however, users can easily impact on companies; the interaction between costumers and company is now at its peak compared to the past and is no longer controlled by the companes. today customers play two simultaneous roles as value creators and as consumers. unlike the traditional customer, who had no control over product development, today costumers have reached the influential position to be innovators and co-creators. the present study is an attempt to develop a conceptual framework for value co-creation model as a business model strategy. the method used for developing this conceptual framework was qualitative and multiple references were used to obtain the required information using interviews and analysis of documents. based on the findings, the framework has 8 components including value inception, value conception, value risk, resources planning, platform, actors, co-creation process, co-created value and learning process, whose components were identified and encoded. the findings added to and synthesized the existing knowledge and helped to develop a unique value co-creation model

A conceptual framework for value co-creation model as business model strategy

Traditional companies used to design products, evaluate marketing messages and control product distribution channels with no costumer contribution. With the advancements in interaction technologies, however, users can easily impact on companies; the interaction between costumers and company is now at its peak compared to the past and is no longer controlled by the companes. Today customers play two simultaneous roles as value creators and as consumers. Unlike the traditional customer, who had no control over product development, today costumers have reached the influential position to be innovators and co-creators. The present study is an attempt to develop a conceptual framework for value co-creation model as a business model strategy. The method used for developing this conceptual framework was qualitative and multiple references were used to obtain the required information using interviews and analysis of documents. Based on the findings, the framework has 8 components including value inception, value conception, value risk, resources planning, platform, actors, co-creation process, co-created value and learning process, whose components were identified and encoded. The findings added to and synthesized the existing knowledge and helped to develop a unique value co-creation model