In the current market, the consumer purchases a product not only for transactional price but for worth in utilize. Businesses have a tendency to check at the client for a co-creator of worth through taking part with the consumers though learning, dialogue, mailers, along with social media consequently succeeding a collaborative strategy for customized goods as well as services. Therefore, businesses has shifted from a post-sales reactive approach to some presales proactive involvement with the client resulting in decreased dissonance and enhanced collaborative value generation. This research interpretatively assesses the basis of collaborative value generation, introspects to the several functions generating value for customers, also analyzes the crucial part of consumers, middlemen, and communication in the present business situation. This research study was based on five corporate relating to the aspects with a comprehensive research trek. It made a survey questionnaire, interviews, and focus group discussions to pertinently probe into the essentials. The findings have been significant to the research with novel results relating to co-creating value. The empirical findings indicate that customer co-creation have favorable effect on Product and service innovation. Through interaction both online and offline, firms obtain data on customers‟ needs or preferences. In the procedure of co-creating value, companies, tend to strengthen the bond with the customer and increase customer loyalty and satisfaction.
Volume 12 | 07-Special Issue
Pages: 2724-2724
DOI: 10.5373/JARDCS/V12SP7/20202411