Abstract
We contribute to new market creation research by theorizing how consumers, rather than producers, ultimately enact novel market categories. Through a comparative case study of still bottled water and ethical bottled water, we show that consumer value is required for new markets to emerge and distinguish distinct types of value which consumers can experience. We demonstrate how these types of value are linked to producers’ resources and identities as well as to consumers’ own identities. This paper reorients the producer-centrism in new market creation research by showing how consumers confer legitimacy to new markets based on the value they experience.
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