A Brand Co-Innovation Model for the Sharing Economy: Customer Involvement and Value Co-Creation

Objective Considering the emergence of many start-up businesses in the sharing economy industry and considering the newness of this industry, it is understood that many are not aware of the right path of co-innovation of the brand to achieve customer involvement and co-creation of value and create loyalty on their behalf. This gap has resulted in the inefficiency of many brands established in this field. If companies can successfully navigate this process, they have the potential to secure a significant entrepreneurial position in society. However, due to insufficient guidance and direction, they have struggled to develop effective and productive platforms for brand co-innovation. Brand co-innovation occurs when brand value is created through interaction and communication by different stakeholders in a fluid space subject to continuous negotiation and creation, and often develops beyond the strategic goals set by brand managers. This challenges many traditional assumptions of brand management and necessitates the adoption of a new management approach. This traditional perspective challenges the value proposition of the brand and instead argues that, while managers must present the brand from within the organization, they must also be willing to accept that the meaning of the brand with many stakeholders. The brand here is an organic perspective that is replacing the traditional static perspective and shows that the brand is created in innovation with stakeholders. This study aims to explain an efficient brand co-innovation model in the sharing economy based on the involvement of customers and co-creation of value in start-up businesses, which leads to the proper use and application of all the existing capacities of these businesses. Moreover, the researchers identified a theoretical gap, noting that no prior research has explored the entire branding process through co-innovation from inception to completion within an industry, particularly in the sharing economy. Methodology This research employs a mixed-methods design. In the first stage, a narrative review was conducted to develop a conceptual framework. The second stage involved qualitative data collection through interviews and a focus group discussion. Finally, a quantitative phase utilized a questionnaire to address specific research questions. The statistical population comprises users and employees of Snapfood and Snapbox. Consequently, the qualitative section incorporates the perspectives of managers and experts from these organizations, while the quantitative section gathers the opinions of the users. Data collection in the qualitative phase was conducted through semi-structured interviews, and the quantitative phase utilized a questionnaire developed based on qualitative findings. Various methods were employed to assess the validity and reliability of both instruments. Thematic analysis was applied to the qualitative data, and structural equation modelling was used to analyse the quantitative data. Findings The research findings in the qualitative part led to the explanation of the brand co-innovation model in the sharing economy based on the involvement of customers and co-creation of value in start-up businesses, which was confirmed in the qualitative part of the model with some changes. Conclusion This research provides results that can enhance customer motivation for involvement and value co-creation, offering start-up business managers a framework to realize co-innovation between the company and its customers. The proposed model can help start-up businesses in the sharing economy to utilize their full capacity by properly involving customers and co-creating brand value, ultimately leading to stronger brand development and stakeholder engagement.