KOREASCHOLAR

Markets are complex ecosystems consisting of various interconnected actors, in which resources are integrated to co-create value. Said value co-creation within markets can be enhanced by creating higher resource density, hence shaping the market. However, market shaping research predominantly focuses on the activities of market shapers, rather than the equally important roles of other market actors within the ecosystem. While market shapers are instrumental in the process of shaping, this narrow focus fails to consider how all market actors inevitably are influenced or influence the market ecosystem. All market actors exert effort in the value co-creation process, including the process of market shaping. This study therefore explores effort in a market shaping context and examines the effects of effort reduction as a mechanism to facilitate market shaping as it leads to enhanced value creation. This is a conceptual study that uses theory adaptation approach to link the concept of value co-creation, market shaping, and effort. This study offers a conceptual framework and five propositions outlining the role of effort reduction in the value co-creation process with flow on effects to market shaping. The developed conceptual framework indicates how market shapers can enhance resource density and increase value creation by reducing the effort required of other market actors in the value co-creation process. This research offers effort reduction in the value co-creation process as a viable market shaping tactic and extends the focus beyond the focal market shaper to consider the broader context with numerous market actors within it.

• Gediminas Lipnickas(University of Adelaide, Australia)
• Jodie Conduit(University of Adelaide, Australia)
• Carolin Plewa(University of Adelaide, Australia)
• Dean Wilkie(University of Adelaide, Australia)