Research on the mechanism of consumer participation in value co-creation by innovative enterprises: An evolutionary game analysis framework

• Published in: PloS one Vol. 19; no. 5; p. e0297475
• Main Author: Liu, Yuhua
• Format: Journal Article
• Language: English
• Published: United States Public Library of Science 15.05.2024; Public Library of Science (PLoS)
• Subjects: Behavior; Biology and Life Sciences; Brand equity; Brand loyalty; Business enterprises; Business models; Collaboration; Community Participation; Competitive advantage; Competitiveness; Computer and Information Sciences; Consumer Behavior; Consumers; Cooperation; Cooperative Behavior; Customer relations; Decision making; Digital technology; Digitization; Game Theory; Humans; Innovations; Marketing research; Models, Theoretical; Participation; Physical Sciences; Product development; Reputation management; Social networks; Social Sciences; Sustainable development; Malaysia
• ISSN: 1932-6203; 1932-6203
• DOI: 10.1371/journal.pone.0297475

The profound changes brought about by informatization and digitalization have given rise to the user-centered innovation concept, and value co-creation by enterprises has become an inevitable trend. It has become a pressing issue for scholars to analyze the mechanism of consumer participation in the value co-creation of innovative enterprises. In this paper, by establishing an evolutionary game model between consumers and innovative enterprises, we analyze in depth the mechanism of consumer participation in the value co-creation of innovative enterprises. The results show that the initial cooperation probability between consumers and innovative enterprises directly affects their strategic choices; the establishment of reward mechanisms makes consumers more inclined to choose active participation in value co-creation strategies; as the probability of non-cooperation between the two parties being reported increases, the probability of consumers and innovative enterprises choosing cooperation also increases. Studying the mechanism of consumer participation in the value co-creation of innovative enterprises has essential theoretical and practical significance for enterprises to achieve value creation, enhance competitiveness, and promote innovation. This study not only enriches and develops relevant theories but also provides guidance and support for the practice of enterprises, promoting sustainable development and successful co-creation.