The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Co-creation experiences: The next practice in value creation
Open accessAbstract
Consumers today have more choices of products and services than ever before, but they seem dissatisfied. Firms invest in greater product variety but are less able to differentiate themselves. Growth and value creation have become the dominant themes for managers. In this paper, we explain this paradox. The meaning of value and the process of value creation are rapidly shifting from a product- and firm-centric view to personalized consumer experiences. Informed, networked, empowered, and active consumers are increasingly co-creating value with the firm. The interaction between the firm and the consumer is becoming the locus of value creation and value extraction. As value shifts to experiences, the market is becoming a forum for conversation and interactions between consumers, consumer communities, and firms. It is this dialogue, access, transparency, and understanding of risk-benefits that is central to the next practice in value creation.
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Citations
Cites
Competitive Strategy: Techniques for Analyzing Industries and Competitors
(1980) · Journal of Sustainable Competitive Intelligence · doi:10.24883/iberoamericanic.v2i2.38 · Cited by 16,592
Co‐creating unique value with customers
Prahalad, C. K., & Ramaswamy, V. (2004) · Strategy & Leadership · doi:10.1108/10878570410699249 · Cited by 2,463
Self-citation
Cited by
Co-creation and the new landscapes of design
Sanders, E. B.-N., & Stappers, P. J. (2008) · CoDesign · doi:10.1080/15710880701875068 · Cited by 5,561
Managing the co-creation of value
Payne, A. F., Storbacka, K., & Frow, P. (2008) · Journal of the Academy of Marketing Science · doi:10.1007/s11747-007-0070-0 · Cited by 3,502
You are what you can access: Sharing and collaborative consumption online
Belk, R. (2014) · Journal of Business Research · doi:10.1016/j.jbusres.2013.10.001 · Cited by 2,951
Service quality delivery through web sites: a critical review of extant knowledge
Zeithaml, V. A., Parasuraman, A., & Malhotra, A. (2002) · Journal of the Academy of Marketing Science · doi:10.1177/009207002236911 · Cited by 2,729
Customer engagement: exploring customer relationships beyond purchase.
Vivek, S. D., Beatty, S. E., & Morgan, R. M. (2012) · Journal of Marketing Theory and Practice · doi:10.2753/mtp1069-6679200201 · Cited by 2,089
Metadata
- Authors
- Prahalad, C. K., & Ramaswamy, V.
- Venue
- Journal of Interactive Marketing
- Publisher
- SAGE Publications
- Published
- 2004-08
- Volume
- 18
- Issue
- 3
- Pages
- 5-14
- ISSN
- 1094-9968 (ISSN-L)
- 1520-6653
- OpenAlex
- W2093505263
- Cited by
- 6,487
- References
- 2
- FWCI
- 47.71
- Type
- journal article
- Language
- en
- Open access
- green
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- Prahalad, C. K., & Ramaswamy, V. (2004). Co-creation experiences: The next practice in value creation. Journal of Interactive Marketing. https://doi.org/10.1002/dir.20015
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
