Co-Creation, the Next Frontier for Small Medium Enterprise in Malaysia, a Literature Review

Abstract

Intense competition exists in the small business sector. More businesses are putting their attention on consumers as a potent way of determining firm success through conversation, involvement, and engagement in order to give value-added services. However, little study has been done to determine whether co-creating customer value might increase brand equity, especially among SMEs. This research examines co-creation among SME consumers of service industries in order to address these gaps in the literature. This study review and present relevant literature spanning form landscape, success, origins, definitions, the diversity, competitive advantage, differentiation, co-creation innovation, the theory of collaborative advantage and the DART model of co creation. The literature review prepared the basic framework for further investigation because theory and model codes helped to create structures and emergent themes. The major goal of this study is to build an infrastructure of knowledge surrounding the co-creation phenomena and identify the existing gap in prior understanding of co-creation in order to give SME in Malaysia a competitive advantage. The literature review in this paper will highlight the need for knowledge on the advantages of working with consumers in co-creation experiences for business owners.