Since the seminal papers of Prahalad and Ramaswamy and Vargo and Lusch (2004), value co-creation has engendered a wide stream of literature, especially theoretical papers. Although value co-creation is presented as a radical departure for marketing practice, we have had limited knowledge about value co-creation in managers’ domain so far. Notably, we have little insight into the factors fostering the emergence of value co-creation within firms, and regarding its impact on performance. Based on two surveys of marketing managers, our research conceptualizes value co-creation as a set of unique managerial activities implemented by managers. Our preliminary analysis of 120 questionnaires conducted through PLS-SEM investigates (1) the role of antecedents related to market orientation and the power of marketing function and (2) the effect of value co-creation implementation on firms’ performance.