Co-creation of value: fixation elements and it’s applicability to hospitality industry

Abstract

Co–creation main concept is to give customer real status as creator of value, who is able to interact with companies in order to find innovative alternatives to bring what he or she really is looking for in the hospitality industry. At this time, studies in this field are isolated so this propossed exploratory methodology studies the relationship between co-creation, participation, loyalty and market share, this last one is considered as the perception customers have with products or services they get during the purchase experience.  Companies are able to develop strategies that make memorable experiences, allowing customers to become emotionally connected with them. In this way, not only requests are satisfied, it also means that companies create value and become more competitive. As a result of that, their profit will be increased.