Co-creation of value and social media: how?

Abstract

This chapter begins by outlining how co-creation offers a new paradigm that fosters growth, innovation and competitive advantage for companies and destination authorities. It then draws attention to the renaissance presently occurring in the market, and how conditions and dimensions of this renaissance will shape our understanding of consumer behavior. Stages of co-creation are explicated to develop a better understanding of what the co-creator experiences during a single co-creation activity. Co-creation campaigns that tourism services and destinations do by using social media tools are highlighted next. Along with the evaluations about the benefits of the transfer of the best features in a virtual world to the real world in co-creation campaigns, the ethical aspects of creation endeavour and futuristic foresights in the light of Web 3.0 technology are then reviewed. Overall, the chapter aims to help comprehend the reasons for the rise of co-creation through social media.

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