aAssociate Professor, Faculty of Entrepreneurship, University of Tehran, Iran
bAssistant Professor, Faculty of Entrepreneurship, University of Tehran, Iran
cMaster of Entrepreneurship Management, Faculty of Entrepreneurship, University of Tehran, Iran
Online published on 4 February, 2015.
New product development is an emerging field with an output that surrounds us everywhere and success in this field leads to improvement in firm performance and development of competitive advantage. Engaging customers in the process of new product development is a subject that has gathered attention of scholars recently. Yet, it is not clear what factors influence co-creation among firms and consumers. Therefore, this paper seeks to identify the effective factors on co-creation in new product development at the stage of idea generation in Tehran's tech-based firms. The effective factors are grouped in three major categories of customer motivators, firm impediments and firm stimulators. The model of the study is developed through interviews with academics and practitioners.
Co-creation, new product development, value generation
