IT-enabled value co-creation process for product design

Abstract

Value co-creation is a modern approach to innovation, in which all stakeholders can play roles in organizational processes; this concept can be studied and implemented in various aspects of management science such as marketing, strategic management, innovation management, etc. This study explores the process of value co-creation in new product design in IT concept. The research method is quantitative; the statistical populations are academic experts and senior managers of the interactive software developers (product) companies. Sampling was continued until theoretical saturation. Interviews data were analyzed by open coding. Findings showed that the process of value co-creation in the organization is a reciprocal process and consists of four stages of thinking, planning, designing, testing and evaluation with the customer, which requires, at each stage, review of the prior steps. The innovation of the article is the presentation of a process and reciprocating model for value co-creation in product design and its components that are introduced at the end.