Empowered consumers and companies redefine value co-creation for all stakeholders.
Value co-creation in marketing is important, but current understanding is limited. By looking at social media, corporate social responsibility, and more, it's clear that all stakeholders, not just customers and companies, can create value together. This means companies can benefit from empowered consumers in new ways. The idea of value co-creation needs to include everyone involved, not just customers and companies. A new framework includes the community as a key player in creating value. This research suggests that value co-creation can be expanded even further in the future.