Brand Value Co-creation Revisited: A Critical Review of Studies

Abstract

In the social world, brand value co-creation is described as an essential activity of market leaders that defines the growth and development of industries. This study explores the existing conceptualisation of brand value co-creation, and suggests reasons for co-creating brand value. For the purpose of a germane background, the study conducted a conceptual and empirical review of brand value co-creation. The study concludes that in order to remain relevant, successful and sustainable in a highly competitive environment, companies should strive to build brands by leveraging the potential of co-creating brand value. The novelty of this research lies in its logical establishment of the reasons of brand value co-creation- innovation, resource integration, relationship building, collaboration, customer satisfaction, and brand equity. Finally, the article proposes a conceptual model that highlights the reasons and categories of brand value co-creation. This article also contributes systematically to evolution of the field of brand value co-creation and identifies opportunities for further research that indicates its pertinence to brand management.

Received: 16 December 2022 / Accepted: 28 February 2023 / Published: 5 March 2023