Value Co-Creation, Social Media, and Marketing 3.0: Towards the Search for Competitive Advantage in Firms

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Author(s): Maria Angeles Garcia-Haro (University of Castilla-La Mancha, Spain), Maria Pilar Martinez-Ruiz (University of Castilla-La Mancha, Spain)and Ricardo Martinez Canas (University of Castilla-La Mancha, Spain)
Copyright: 2015
Pages: 21
Source title: Handbook of Research on Integrating Social Media into Strategic Marketing
Source Author(s)/Editor(s): Nick Hajli (Newcastle University Business School, UK)
DOI: 10.4018/978-1-4666-8353-2.ch007

Keywords: Business Science Reference / Marketing / Media & Communications / Social Networking

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Abstract

The aim of this chapter is to analyze a new concept value co-creation-that has emerged in the context of marketing and business management research. In today's market environment, companies are continually pressured to innovate in order to attract and maintain consumer loyalty and gain and sustain competitive advantage in the market. First, this chapter identifies factors and variables that are leveraged to determine value co-creation in firms. Second, this chapter examines how the development of information and communication technologies-in particular, the Internet and social media networks-has become the main engine of the co-creation activity in a Marketing 3.0 context. Third, this chapter discusses the consequences and benefits of implementing such concepts on the achievement of competitive advantages for firms.

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Value Co-Creation, Social Media, and Marketing 3.0: Towards the Search for Competitive Advantage in Firms

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