Co Creation

Question 1

Co creation marketing (sharma

Answer 1

The interaction of the end consumer and marketers in all aspects of design, production and consumption on the product/service

Question 2

Co creation (perk et al)

Answer 2

Involved the joint creation of values by firms and its networks of various entities

Question 3

Co creation is…

Answer 3

Open (transparency)
Ongoing (no time slot)
Interactive (feedback/interaction)
Collaboration (sort of team work - win win)
Create value (win win)

Question 4

Difference between co creation and lead user concept

Answer 4

Lead users - intrinsically motivated to innovate, they need something performing the innovation process is autonomous. Task of the interested firms to identify and capture the resulting inventions

Co creation - firm driven strategy. Instead of just screening the user base the firm to detect any prototypes created by lead users, the firm provides tools to a broader group of customers to actively co create a solution.

Question 5

Service dominant (s-d) logic in marketing (Vargo and Lusch)

Answer 5

Service is the common denominator in exchange and no some special form of exchange

Customer co creator of value
Value is always determined by the beneficiary
Sharing of skills and knowledge to gain CA
This requires orgs to have ability to collaborate and learn from consumers

Shift in marketing - not ‘to customers’ but ‘with and among customers’

Learning with and from
Relationship

Question 6

Benefits of co creation

Answer 6

Important source of external knowledge reduced info asymmetry
Customers possess unique knowledge about preferences
Alam says increase in success in terms of product
Profit (lau et al)
Market share
Engagement

Question 7

Risk of co creation

Answer 7

‘Not invented here’ syndrome (Katz and Allen)
Resistance against external knowledge
Reject new ideas from outsiders
Chicken shit advert
Some research institute opened ideation to public to name this multimillion pound boat and boaty mcboaty face was the most bored idea - they refused to honour it

Question 8

Structuring co creation

Answer 8

Degree of collaboration (structure dydactic connection between a firm and customers who are not connected to each other, or networks of customers who collaborate among themselves independent from the firm)

Degree of freedom (nature of tasks assigned to customers. Narrow and predefined with only a few degrees of freedom or an open and creative task).

Remember quadrant

Question 9

Toolkit’s for use innovation

Answer 9

Aim of toolkit is to integrate potential users of a product into the innovation process

A working platform for numerous people

Sufficient manufacturing related information and guide them through the co-design and process of expressing thier needs and wishes in a usable format

Question 10

Idea contests

Answer 10

Web based - address specific task
Crowdsourcing principe 
Can be used B2B or B2C
Collaborative mechanisms improve innovation
Non monetary rewards
Get esteem and prestige for taking part 
Get recognition

Question 11

Examples

Answer 11

Quirky - similar to threadless
Collective community

Muji - internal design - customer/incorporation with innovation 8000 suggestions per week

Threadless - takes suggestions from customers - send in designs - £2,000 of design accepted

Question 12

Difference between traditional perspective customer engagement in physical environments and co collaboration in virtual environments

Answer 12

Traditional - firm centric, passive customer voice as input to create and test products, one way firm to customers, focus on individual knowledge and direct interaction with current customers

Virtual - customer centric, active consumer as a partner in innovative process, two way dialogue continuously back and forth, focus on social and experimental knowledge and directed and mediated interactions with current and potential customers

Question 13

Five rules to crest a good co creation platform (fronteer strategy)

Answer 13

1 inspire participation - trigger people to join, open up and show what’s in it for them

2 select the very best - best ideas and best people to deal with complex issues

3 connect creative minds - enable bright people to build on each other ideas

4 share results - give back to people (crucial)

5 continue development - longer term engagement

Question 14

Roberts and piller Burberry example

Answer 14

Burberry relies heavily on social media to reach customers and fans. As far as back 2011, Burberry was spending more than 60% if it’s marketing budget on digital media

Question 15

Roberts and piller -taking advantages of SM requires

Answer 15

Taking advantage requires more than having a Facebook presence with loyal base of friends. Orgs clear strategy and objective

Question 16

Fewer than 50% of companies surveyed use social media doing the npd process

Answer 16

Roberts and piller

Question 17

Who benefited from social media in npd process? (Roberts and piller)

Answer 17

Those who used in every stage of the development process, they built organizationalnprocesses and structures to support new product development activity

Question 18

Roberts and piller nestle example

Answer 18

Made good use of social media with launch of kit kat ‘celebrate the breakers break’ campaign. Utilised YouTube and twitter, had hashtags moodle directly into the chocolate of the bars, adding novelty

Question 19

Eurosat - customers are..

Answer 19

Most importance external source of knowledge for innovation process

Question 20

Roberts and baker perceptions of market learning techniques

Answer 20

Focus groups are passé
Focus groups are a trend outmodeled
Old techniques old consumers - not promoting radical innovation

Question 21

Business wire said

Answer 21

Involving consumers in npd process can improve quality, reduce risk and increase product acceptance