By: Prof. Kumar Rakesh Ranjan, Senior Lecturer (Marketing), School of Business, University of Queensland, Brisbane, Australia.
Abstract of the Talk: The talk about the paper brought core work from the individual psychology literature together with the concept of value co-creation (VCC) and offered empirical evidence to untested theoretical claims about the role of the individual in VCC. Their investigation began with a review of the individual psychology and VCC literature, identified conceptual bridges between the two. They tested the results of their theoretical development across two independent studies to examine whether individual characteristics impact the activity of VCC. They found a consistent positive effect of a consumer’s pro social orientation and perspective-taking on VCC. However, consumer’s extroversion does not affect the degree of VCC, whereas consumer involvement returns a significant effect in the case of products but not services. Perhaps most interesting, desire-to-participate mediated each of these significant relationships. That study offered a new theory which encouraged viewing both VCC and the service-dominant logic (SDL) from the unit of analysis of the individual and indicated that managers need to understand the individuals most likely to productively create value with the firm. The implications of their findings around individual psychology in co-creation was discussed, specific applications within the digital context were considered, and suggestions are offered for future research.