OPPORTUNITIES FOR PUBLIC RELATIONS SPECIALISTS TO ENHANCE THEIR KNOWLEDGE IN UNDERSTANDING THE FEATURES OF THE BRAND VALUE CO-CREATION DIMENSIONS
T. Limba, A. Šidlauskas, E. Juozėnaitė
The brand value co-creation is one of the most influential concepts in modern marketing. Brand value co-creation is defined as a joint process that involves customers and providers creating some output of value. Value co-creation is an interactive process where the involved actors collaborate to create value for each other. Value can be derived through interaction with the firm, its brands, and its value propositions; it can also arise through the process of consumption, and value can be created through network relationships and social interactions among all the actors in the ecosystem.
The brand value co-creation framework enables the creation of value for all parties involved. The value co-creation of a brand benefits companies by increasing sales, market share, brand awareness, brand satisfaction, and consumer loyalty. This article discusses the value created for consumers involved in brand value co-creation. Involving consumers in a range of proactive activities, including development, feedback, advocacy, and support, can work together to create consumer perceptions of the brand's value.
The paper describes how brand value co-creation can be manifested through consumers' engagement behavior in brand activities. The different understandings of brand value for consumers and how brand value co-creation dimensions can be understood are discussed. The article describes the features and practices of functional, emotional, social, individual, moral, and ethical dimensions of value.
The research methods used in this academic article include literature review, systematic analysis, and generalization. The main purpose of this article is to enhance the public relations, communication, and marketing managers' knowledge and raise their qualifications in understanding the features and practices of the brand value co-creation dimensions.
Keywords: Brand value co-creation, co-creation dimensions, consumer engagement.