The Importance of Customer Co creation of Value for the Tourism and Hospitality Industry
Customer co creation is recognized as an important source of service innovation and constitutes one of the key research priorities in contemporary marketing research. The concept of customer co creation of value implies that customers can actively participate in every stage of the service development process. Offering unique and memorable customer experiences is of paramount importance for tourism service providers in order to remain competitive. Creating a unique experience further involves both customer participation and a connection which links the customer to the experience. As such, co creation practices are of vital importance for tourism settings. This article presents the basic principles of Service Dominant Logic, customer value, and customer co creation of value, and highlights its importance for tourism and hospitality management. The article closes with the provision of managerial implications how customers can create value in the pre consumption stage, the consumption stage, and the post consumption stage.