For the shrimp companies to remain relevant to its local
and international consumers, they must offer new shrimp product and
services. It must work actively not just to create value for the consumer,
but to involve the consumer in co-creating value for shrimp product
innovation in the market. In this theoretical work, we conceptualize the
business concept of value co-creation in the context of shrimp products,
and propose a framework of value co-creation for shrimp product
innovation in shrimp industries. With guidance on value co-creation in
in shrimp industry, and shrimp value chain actors mapped to the
co-creation cycle, companies can use the framework to offer new
shrimp product to consumer communities. Although customer
co-creation is known approach in the world, it is not commonly used
by the companies in Bangladesh. This paper makes an original
contribution by conceptualizing co-creation and set the examples of
best co-creation practices in food sector. The results of the study
provide management with guidelines for successful co-creation
projects with an innovation- and market-oriented approach. The
framework also provides a basis for further research in this area.
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