The study addresses two key questions: (1) How do customers' risk tolerance and relationship age moderate the effect of customer engagement on customer co-creation? (2) How does customer engagement in the co-creation process influence the success of new products?
This study develops a framework that links customer engagement, co-creation, customers' risk tolerance, relationship age, and new product success. Data were collected from customers involved in the co-creation process. Structural equation modeling (SEM) was employed to test the study’s hypotheses.
The findings reveal that customer engagement has a significant positive impact on customer co-creation, suggesting that engaged customers are more likely to contribute actively to the development of new products. This relationship is further strengthened when customers demonstrate higher risk tolerance and when their relationship with the firm is longer. Moreover, the results show that customer co-creation significantly enhances new product success, underscoring the value of involving customers in innovation processes to improve performance outcomes. These insights offer important implications for managing customer relationships and designing effective co-creation initiatives.
This study contributes to the literature by exploring the moderating role of customers' risk tolerance and relationship age on the link between customer engagement and co-creation. It also highlights the significant impact of customer co-creation on the success of new products, providing valuable insights for companies looking to enhance product development through customer involvement.
