Shashank
| CO-CREATION: CREATING AND MANAGING BRANDS ALONG WITH THE CUSTOMER | Research Project Report | | Shashank Malhotra44B MBA (IB), 11-13Under the guidance of:Ruppal Walia Sharma, Associate Professor, IIFT | 10/01/2013 |
Table of Contents
Introduction 3 Some Definitions: 4 Objectives And Scope 7 Fundamental Blocks Of Co-Creation Of Value 8 Identifying The Co-Creative Elements In The Wide Range Of Customer Involvement Activities: Co-Creation And Other Overlapping Concepts 9 Consumer/Customer Involvement: 9 Co-Production 9 Mass Collaboration 10 Mass Customization 11 Open Innovation 11 User Generated Content 12 Plotting Various Forms Of Co-Creation 13 Boeing Dreamliner 787: A True Example For Co-Creation 14 How Did Boeing Engage The Customers In The Innovation Process? 14 Types Of Co-Creation 15 Co-Creation Of Products: 15 Co-Creation Of Marketing Communication 15 Co-Creation Of Social Experiences 16 How Should Banking Sector Approach Co-Creation? 17 Some Recommendations 17 Co-Creation Opportunity In Credit Cards 18 Some Examples And Case Studies 20 Case Study I: IHG (Intercontinental Hotels Group) And Chase Card Services: Co-Creation Example 20 Case Study II: Dbs – I Designed A Bank Contest: An Example Of Open Innovation 22 Case Study III: Morris On Campus: Bank Of America 23 Cocreation (Motivations, Prerequisites, Risks and Challenges)………………………………………25 Motivations For Co-Creation 25 Prerequisites For Co-Creation 25 Touchpoints For Implementation 26 Co-Creation Impact On Brands 26 Risks Related To Co-Creation 27 Case Study IV: Co-Creation Gone Wrong: Chevrolet Tahoe 28 Appendix 1: A Process Of Brand Co-Creation 31 Appendix 2: Brand Relationship Experience Co-Creation Model 32 Appendix 3: Co-Creation Examples Mentioned By Authors (During Literature Review) 33 References 35 Books 35 Other Sources 35
FIGURES Figure 1: The Traditional Concept of the Market Source: Prahalad
Table of Contents
Introduction 3 Some Definitions: 4 Objectives And Scope 7 Fundamental Blocks Of Co-Creation Of Value 8 Identifying The Co-Creative Elements In The Wide Range Of Customer Involvement Activities: Co-Creation And Other Overlapping Concepts 9 Consumer/Customer Involvement: 9 Co-Production 9 Mass Collaboration 10 Mass Customization 11 Open Innovation 11 User Generated Content 12 Plotting Various Forms Of Co-Creation 13 Boeing Dreamliner 787: A True Example For Co-Creation 14 How Did Boeing Engage The Customers In The Innovation Process? 14 Types Of Co-Creation 15 Co-Creation Of Products: 15 Co-Creation Of Marketing Communication 15 Co-Creation Of Social Experiences 16 How Should Banking Sector Approach Co-Creation? 17 Some Recommendations 17 Co-Creation Opportunity In Credit Cards 18 Some Examples And Case Studies 20 Case Study I: IHG (Intercontinental Hotels Group) And Chase Card Services: Co-Creation Example 20 Case Study II: Dbs – I Designed A Bank Contest: An Example Of Open Innovation 22 Case Study III: Morris On Campus: Bank Of America 23 Cocreation (Motivations, Prerequisites, Risks and Challenges)………………………………………25 Motivations For Co-Creation 25 Prerequisites For Co-Creation 25 Touchpoints For Implementation 26 Co-Creation Impact On Brands 26 Risks Related To Co-Creation 27 Case Study IV: Co-Creation Gone Wrong: Chevrolet Tahoe 28 Appendix 1: A Process Of Brand Co-Creation 31 Appendix 2: Brand Relationship Experience Co-Creation Model 32 Appendix 3: Co-Creation Examples Mentioned By Authors (During Literature Review) 33 References 35 Books 35 Other Sources 35
FIGURES Figure 1: The Traditional Concept of the Market Source: Prahalad
References: FIGURES Figure 1: The Traditional Concept of the Market Source: Prahalad and Ramaswamy (2004) 4 ‘We estimated when we started about three years ago, we had about 20% of our ideas, products, and technologies that came from totally outside P&G. Today, we’ve got about 35%, and our target is to get to 50%’ Gilbert Cloyd, P&G’s CTO, 2004 Figure 1: The Traditional Concept of the Market Source: Prahalad and Ramaswamy (2004) Co-creation (Sampson 1997) is the process by which products, services, and experiences are developed jointly by companies and their stakeholders, opening up a whole new world of value. Source: Prahalad and Ramaswamy (2004), Journal of Interactive Marketing Figure 3 The Emerging Concept of the Market Source: Prahalad and Ramaswamy (2004), Journal of Interactive Marketing