Title: The emerged trends in consumers' co-creation: a conceptual framework for extending or creating the brand
Authors: Soumi Paul; Paola Peretti; Saroj Kumar Datta
Addresses: National School of Business, JP Nagar, Bangalore 560078, India ' Stockholm School of Economics, Sveavägen 65, 113 83 Stockholm, Sweden ' Accurate Institute of Management and Technology, 49, Knowledge Park-III, Greater Noida, Uttar Pradesh 201306, India
Abstract: One area of business where co-creation can return significant dividends is on extending the brand or brand category. Whilst consumers have few unmet needs, having more choice of products and services than they have ever had, they do not appear to be entirely satisfied. However, they are in an ideal position to suggest improvements to a product or new category that they might have been using or looking for. It ensures fit with need, which creates value associated with innovation and business creation. The research methodology is a state-of-the art of this topic. This article presents a conceptual model of value co-creation activity. The study points to the critical role of creating visibility for change as well as the importance of the infrastructure supporting changes. It is ascertained that the findings support the need for a degree of freedom in communication with both customers and marketing departments in new product/brand development and changes.
Keywords: conceptual models; value co-creation; consumer co-creation; brand management; brand value; new product development; NPD; new brand development.
Journal for International Business and Entrepreneurship Development, 2016 Vol.9 No.2, pp.190 - 203
Received: 05 Nov 2015
Accepted: 06 Nov 2015
Published online: 13 Jul 2016 *