ABSTRACT

In this chapter, the authors argue for the applicability of a socio-cultural perspective as they positioned consumer value as being a culturally and socially constructed phenomenon. They present that the proposed framework offers a more embracing and comprehensive approach to understanding the process of consumer value co-creation. To further explore the process of consumer co-creation of value, the authors follow Graeber and Karababa and Kjeldgaard's socio-cultural conceptualisation of value. Such a perspective is focused on the 'cultural meanings, socio-historic influences, and social dynamics that shape consumer experiences and identities in the myriad messy contexts of everyday life'. To summarise, the authors argue that, within a socio-cultural context such as a festival, the social value derived by consumers/participants is linked with their feeling of belongingness within the particular community. In particular, the authors analyse the festival in terms of the three inter-related consumer value perspectives: social, semiotic and economic value.