| With the great enrichment of the commodity market,consumer needs have gradually become diversified and personalized.Firms begin to invite consumers to participate in new product development,hoping to gain consumer preferences through interaction with consumers,improve the success rate of new product development,and achieve joint creation of value with consumers.Value co-creation emphasizes the role of consumers as value co-creators,and challenges the traditional view that states firm creates value alone under traditional product innovation.Therefore,value co-creation has become an important issue in the academic community.At this stage,there is sufficient research on consumers’ motivations for participating in value co-creation and the impact of value cocreation on firm performance.However,the research on the impact of consumer behavior on value co-creation by using quantitative analysis methods is still scarce,and the research on value co-creation strategy between firm and consumer based on different situations.In view of this,based on the background of value co-creation between firm and consumers,this dissertation fully considers the combination of different market structures and consumer types,discusses the value co-creation strategy between firm and consumer in four situations.Furthermore,we consider the contribution sequence in value co-creation between firm and consumer.This dissertation constructs different firm-consumer value cocreation models based on the different situations to study the value co-creation decisions of firm and consumer(decisions on whether firm and consumer choose to participate in value co-creation and the effort levels invested in value co-creation),and the final product pricing decisions.Then this dissertation explores the impact of different value co-creation strategies and pricing strategies on firm profit and consumer surplus.The main contents and conclusions of this dissertation are as follows:Firstly,this dissertation studies the value co-creation and pricing strategy of monopoly companies with homogeneous consumers,and constructs a value co-creation model composed of monopoly and homogeneous consumers.Based on the game model,reverse induction method is used to solve and compare the optimal solutions under different value co-creation strategies.The main conclusions are as follows:(1)Value co-creation between firm and consumers can lead to higher firm profit and consumer surplus than in the case of no value co-creation.(2)When the degree of interaction between firm and consumers is relatively low,the firm get higher profit when consumers first participate in value co-creation.Conversely,the firm get higher profit when firm first participates in value co-creation.(3)Consumers can obtain higher consumer surplus when firm first participates in value co-creation.(4)The manufacturing costs will not affect the decisionmaking of both parties on whether to engage in value co-creation.Secondly,this dissertation studies the decision-making problem of whether two firms adopt value co-creation in a competitive environment,and constructs a value co-creation model composed of duopoly and homogeneous consumers.Furthermore,the impact of different sequences in which firms and consumers participate in value co-creation on firms’ strategies is discussed.Based on the game model,the optimal solutions under different value co-creation strategies is solved and compared.The main conclusions are as follows:(1)The firm profits when both firms choose to co-create value with consumers are lower than the firm profits when neither firm chooses to co-create value with consumers.In the case where only one firm co-creates value with consumers,the firm that co-creates value with consumers gets higher profits than the other two cases; the firm that does not co-create value with consumers gets lower profits than the other two cases.(2)The only equilibrium strategy is both firms choose to co-create value with consumers.(3)Consumers will only co-create value with one of the firms,and can obtain higher consumer surplus than in the case of no value co-creation.(4)The sequence in which firms and consumers participate in value co-creation will not affect the equilibrium strategy of duopoly.Thirdly,this dissertation studies the value co-creation and product pricing strategy selection issues between firm and these two types of consumers,and constructs a value co-creation model composed of monopoly and heterogeneous consumers.Based on the game model,the optimal solutions under different value co-creation strategies and product strategy are solved and compared.The main conclusions are as follows:(1)Value cocreation between monopoly and two types of consumers can result in higher firm profit and consumer surplus than in the case of no value co-creation.(2)The optimal strategy for the firm is to choose to co-create value with both types of consumers and charge the same price to all consumers.(3)Active consumers can obtain higher consumer surplus in the case without price discrimination.In the case without price discrimination,only when the degree of interaction between firm and consumers is low enough,active consumers will obtain higher consumer surplus in the case where the firm only co-creates value with active consumers.(4)The sequence in which firms and consumers participate in value co-creation will not affect the equilibrium strategy of monopoly.Fourthly,this dissertation studies the value co-creation and product pricing strategy selection issues of the two firms in a competitive environment,and constructs a value co-creation model composed of duopoly and heterogeneous consumers.Based on the game model,the optimal solutions under different value co-creation strategies and product pricing strategy are solved and compared.The main conclusions are as follows:(1)The equilibrium strategy of duopoly is to choose to co-create value with active consumers.When both firms choose to co-create value with active consumers,the optimal pricing strategy is to adopt price discrimination.(2)Both types of consumers can obtain higher consumer surplus in the context of value co-creation.In addition,active consumers prefer no price discrimination,while inactive consumers prefer price discrimination.In summary,this dissertation mainly has three innovative contributions as follows:(1)Based on the background of consumers participating in new product development stage and achieving value co-creation with firm,different value co-creation scenarios are set up by considering three factors: market structure,consumer types and the contribution sequence in value co-creation between firm and consumer.Taking consumers as decisionmaking subjects,this dissertation clarifies the connotation of value co-creation between firm and consumers in different situations,and constructs a firm-consumers value cocreation game model.(2)In a given situation,the impact of different value co-creation strategies on firm profits and consumer surplus is studied,and the corresponding optimal value co-creation strategy choices for firms and consumers are given respectively.(3)This dissertation also studies the issue of product strategy selection of firm,and explores of different strategies on firm profits based on whether the firm adopts price discrimination for heterogeneous consumers.It obtains the important conclusion that firm can obtain higher profits without price discrimination in some specific situations. |
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