It is no longer news that Service Providers and consumers need to work together to co-create values. That means before products and services can be acceptable to end users, it must have input from consumers that they are willing to serve.
In co-creating values, service providers need to carry along all stakeholders in the value change. There must be active collaboration between the stakeholders in order to ensure that customers are satisfied. The organisation has to let their partners know where they stand as far as customer satisfaction is concerned. Although it is difficult for some organisations to reach customers directly but with good policies and guidelines to those in the value chain, they will be able to serve customers better.
Also , you need to know that organisations that deliver value to customers are referred to as Service Providers while those that enjoy such service are referred to as Service consumers.
If an organisation desires to create value to consumers, the regulators in that particular also need to be fully involved/. The regulators will help the organisation to create standardized products that will not harm customers. Take for example, National Agency for Food and Drug Administration and Control in Nigeria have set up procedures to be followed when companies want to register their products. With these procedures , individuals and corporate bodies that wants to produce substandard products are discouraged. This ultimately allows consumers to get value for what they are paying for.
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