THE ROLE OF VALUE CO-CREATION IN THE BRANDING OF FUNCTIONAL URBAN AREAS: A DELPHI ANALYSIS

This paper investigates the role of value co-creation in the branding of Functional Urban Areas (FUAs), emphasizing stakeholder participation in the branding process. FUAs are composed of smaller territorial units, necessitating collaboration and value co-creation to effectively manage and promote these regions. Using the Delphi method, international experts from academia, business, NGOs, and research institutes evaluated the thesis that value co-creation will be a defining characteristic of FUAs’ branding. The research assessed the significance and desirability of this approach for developing a branding model for FUAs, examining potential barriers, supporting factors, and the impact on identified key stakeholder groups. Findings suggest that experts view value co-creation as one of the most essential elements for successful FUAs’ branding, highlighting its potential to enhance stakeholder commitment and strengthen brand identity. This study provides valuable insights for both theorists and practitioners, emphasizing the need to incorporate value co-creation in FUAs’ branding strategies and offering a foundation for future research and practical applications in urban and regional brand management.