A unified model of the co-creation process

Co-creation is a pro-active strategy for enabling firms to create value through co-opting consumer competences. Several studies have conceptualised factors for characterizing the co-creation process. A few propose methodologies for co-creation. However, only a handful have so far analysed co-creation in a manner that emphasises the role of existing value or formalised the co-creation process with a view to adding rigour to research/practice and providing insights into activities - leading to increased success of co-creation. This article proposes a unified model for co-creation that integrates functions for strategising supplier-consumer involvement based on existing value-in-exchange and value-in-use and for selecting co-creation techniques. A step-by-step approach to using the unified model is then presented and applied through two collaborative projects within a semiconductor company. The article concludes by discussing the implications of the model for research and practice. (C) 2014 Elsevier Ltd. All rights reserved.