Fighting against the economic crisis: Innovation in B-to-B markets through co-creation

Abstract

The special characteristics of industrial markets favour customer involvement in product development. Besides the influence in the development process, its participation fosters opportunities for managers in terms of innovation, value co-creation and customer retention. Based on the social exchange theory and resource-based view, the present research discusses a theoretical model that can promote dynamic capabilities and increase customer retention through value co-creation. The special characteristics of industrial markets favour customer involvement in product development. Besides the direct influence in the development process, participation increases the opportunities open to managers in terms of value co-creation and customer retention.