Abstract:

In this globalized world not only companies but also Higher Education organizations despite their particular characteristics, should be aware of the environmental transformations influencing their markets to make adaptations according to their changing needs in order to satisfy the dynamic needs of their stakeholders. Research has shown that some companies have obtained competitive advantage through the establishment of long-term relational ties with their stakeholders, relationships characterized by dialogic communication that allows value co-creation. Therefore, aspects like teaching methods, academic offer, and the relationships universities practice with their stakeholders require a shift to make it possible for them to co-create value in cooperation with students, companies, and society as a whole [1].

The importance of promoting university-industry relationships for the sustainability of both organizations in an increasingly dynamic world is that through knowledge sharing their competitive advantages are strengthened, and that the outcome of this exchange becomes an input for innovation and economic growth [2], which influences the development of society. However, as these relationships are not very common academics invite universities to adopt the relationship marketing approach as a management strategy.

On the other hand, although there are few academic research on value co-creation as a result from the relationship marketing practice in the University-Industry context, some authors have shown some outcomes from University-Industry relationships, as knowledge transfer, applied research, etc.[3].

In addition, as in the relationship marketing in B2B (Business-to-business) and B2C (Business-to-Consumer), there are some mechanisms, drivers, or variables detected by researches in the University-Industry relationships that moderate the actor’s success and also influence the relationships performance (e.g. trust, commitment, understanding, communication, collaboration, conflict, and leadership).

In this order of ideas, through literature review from different academic disciplines, the aim of this paper is to propose a new model useful to discover, interpret, contrast and classify the values that are co-created through the practice of the relationship marketing strategy in the University-Industry context, having into account the variables determining these relationships. In addition, the work will make methodological proposals to test the model in different cultural and business environments.

References:
[1] Judson, K. M., & Taylor, S. A. (2014). Moving from marketization to marketing of higher education: The co-creation of value in higher education. Higher Education Studies, 4(1), pp.51.
[2] Galán‐Muros, V., & Plewa, C. (2016). What drives and inhibits university‐business cooperation in Europe? A comprehensive assessement. R&D Management, 46(2), pp. 369-382.
[3] Perkmann, M., Tartari, V., McKelvey, M., Autio, E., Broström, A., D’Este, P., & Krabel, S. (2013). Academic engagement and commercialisation: A review of the literature on university–industry relations. Research Policy, 42(2), pp. 423-442.

Keywords:

Value co-creation, Relationship marketing, University-Industry relationships, Dynamic capabilities.