Co-creation Branding
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Co-creation is value creation by Firm and Customer together on an ongoing basis.
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Co-creation Branding
- 2. Agenda • The Co-creation Story • Benefits & Challenges • The Evolution (Unilever’s way) • Overview • Traditional Vs. Co-creation branding • Potential • Implications - – Social – Moral – Business • Types of Value Co-creation • Co-creation & Personal Finance • Historic examples of Co-creation • Case Studies • The Way Forward
- 5. • Sas Bhi Kabhi Bahu Thi – 1758 episodes • Kahani Ghar Ghar Ki – 1607 episodes • Kasauti Zindgi Ki – 1350 episodes
- 6. Answer
- 7. Shopping Mall • Where people got freedom of Mandi • Wholesale rates • Sophistication of new age shopping • Opportunity to be closer to the brands • Their favorite brand to their service
- 8. Reality Shows • People can vote to their favorite contestant • People can actually participate & win • Consumer runs the show • Plus they get all the drama which they see in soaps.
- 9. “THE HAWTHORNE EFFECT” • Lucent technologies – 1924 • What was odd was that whenever Hawthorne workers participated in a test their productivity went up - regardless of the test! • What was even more odd was that Hawthorne workers became advocates of whatever it was their participation involved Was there something in Hawthorne’s water?
- 10. People just like participating!
- 11. Participatory Marketing (PM) Marketing based not on passive consumption, but active audience participation
- 12. “Consumer - Generated Content."
- 13. …but
- 14. “If I had asked my customers what they wanted, they would have said a faster horse.” Henry Ford
- 16. Engagement Vs. Control
- 17. Chairman and CEO of Apple Inc. Board of Directors of Walt Disney Company
- 19. What is Co-Creation? Co-creation is value creation by Firm and Customer together on an ongoing basis.
- 20. The co-creation concept came to light in 2000, by C.K. Prahalad and Venkat Ramaswamy “From isolated to connected, from unaware to informed, from passive to active."
- 21. This requires a different mindset different approaches different ways of working
- 24. Benefits •Emerging market opportunities • “unlearning” • Shared vision • Validating the knowledge • Mutual value - ongoing basis • Personalised, unique experiences • Higher levels of customer loyalty for the firm
- 25. Research shows that participatory marketing &/or Co-creation stimulates a key growth driver: recommendations
- 26. Participatory marketing brings users, brands & suppliers together and that’s good for customer-focus.
- 27. Challenges • Resistance to change • Collaboration Vs. Competition • Shifting mind set
- 28. The Evolution Unilever’s way Early 1980s Desk research, focus groups & brainstorming sessions End of 1980s Ethnography Early 1990s Insight Activator End of 1990s Fast Track Insight Activator Early 2000s Co-creation
- 29. Traditional Branding Co-creation Branding Scheduled On demand Appointment Whenever, wherever Sit back Participative Messages Experiences Content we think you’d like Content we know you like (because you’ve told us) We control the way it is We allow you to play with it, delivered pass it on
- 30. Potential Learn from the early successes in co-creation • Research shows that co-creation branding stimulates a key growth driver: recommendations • Co-creation formula can boost sales by 10%+ (P&G) • Dove's real women • Doritos and Chevrolet • Cannes advertising awards
- 31. Implications of Co-creation Social Moral Business • Community • Consumer • Good will formation loyalty • Increased • People’s talk • Living the credibility brand • Free PR • Way of life
- 32. EIGHT STYLES OF PERSONALISED or COMPANY-CUSTOMER UNIQUE CUSTOMER Experience (8) VALUE CO-CREATION VALUE Environments Personalised Experience Value Creation Value In-Use (unique experiences) and Knowledge (7) Real-Time Co-Creation Marketing & IPOD, AMAZON (US), MEDTRONICS, JOHN Service DEERE, ON STAR (6) New Service Adaptation CONTACT CENTRE Design DIALOGUE, CEMEX and FEDEX TRACKING TELIASONERA, ALARIS SYSTEMS MEDICAL SYSTEMS (5) Open Community WITHIN WITHIN THE FIRM MARKETS AND N Ideation and IO (4) Mass COMMUNITIES AT RE Customisation Product -C L UE ADIDAS, DELL, CAR Design and (2) New Product VA MANUFACTURERS O F Development Design and US COMPUTER GAMES Development (Lead LOC (3) Existing MODS, LINUX, LEGO MINDSTORMS, FIRFOX, User) Product Adaptation INNOCENTIVE P&G, SILICON GRAPHICS, VOLVO XC90, HARLEY DAVIDSON, SATURN (Customer Feedback SONY ANTENNA SHOPS, R&D (1) Product CISCO KNOWLEDGE CENTRE, Value Creation MICROSOFT KNOWLEDGEBASE “Finishing” IKEA Pre-Use (Fixed attribute products) STANDARD CUSTOMER VALUE
- 33. Co-creation & Personal Finance
- 34. 2 1
- 35. Co-creation financial space • Self help efforts • Diversified financial needs • Mass customisation • Integration
- 36. Historic Example of Co-creation branding
- 37. Case Studies
- 39. • Internet phenomenon due to the film's title and premise. • Before and after the film was released, it was then aired on television shows and films. • Fan-made videos, video games, a noise album dubbed Soundtrack for the Motion Picture Snakes on a Plane, and various forms of literature.
- 40. Open Source Culture • Open source governance • Open source hardware • Open source Initiative • Open-source license • Open source political campaign • Open source record label • Open source religion
- 42. • PepsiCo • Me on My Can • Frito-Lay India • ‘Fight for your Flavor’ • Sunsilk • ‘Gang of Girls’ • Kingfisher • Kingfisher-Ad Director’ User-generated TV
- 44. The Way Forward
Notes de l'éditeur
- Consumer still prefer buying vegetable from ‘Mandi’
- Once upon a time people have loved the daily soaps…
- Salespeople standing for the feedback, feedback boxes, customer care stalls. People could actually see that the changes in product or service they have asked for is been implemented. Which was good…
- -TO WHEN LUCENT TECHNOLOGIES WAS CALLED WESTER ELECTRIC AND OWNED A FACTORY OUTSIDE CHICAGO CALLED HAWTHORNE -RESEARCHERS FROM MIT AND HARVARD WERE INVESTIGATING WORKING CONDITIONS AND WORKER PRODUCTIVITY -THE RESEARCHERS ASKED WORKERS TO PARTICIPATE IN SPECIAL TESTS, AND MEASURED THEIR PRODUCTIVITY AND CAPTURED THEIR FEEDBACK -LIKE WORKING UNDER BRIGHTER LIGHTING CONDITIONS... OR SOFTER LIGHTING CONDITIONS... -OR WORKING SHORTER HOURS... OR WORKING LONGER HOURS... - NO, THE POSITIVE RESULTS HAD NOTHING TO DO WITH WHAT WAS BEING TESTED AND EVERYTHING TO DO WITH GETTING PEOPLE TO PARTICIPATE
- Thanks to higher connectivity to all the consumer which is adding steroids to the phenomena of the participatory marketing. & the new buzz word is floating around called CGC or consumer generated content.
- Not everybody was comfortable with the whole concept of Participatory Marketing.
- -Is it end of corporate inputs to the innovations. -How much do we trust our consumer.
- It creates a new dynamic to the producer/customer relationship by engaging customers directly in the production or distribution of value. A process developed in order to involve consumers in a much deeper way – not only to help marketers to identify the insights but taking them forward to create the whole product mix including concept, packaging, advertising and activation.
- Published a Harvard Business Review article that explained how the Internet altered the relationship between individuals and institutions. -Later, they expanded on the topic in their book The Future of Competition (Harvard Business School Press, 2004). “No longer is the institution the center of gravity,” Ramaswamy explained. “The center is now the point of intersection between companies and individuals. Interaction is becoming the heart of value creation.”
- We have developed a simple six-step co-creation process for clients such as Unilever and Orange called ‘Helix’ (see figure 3) that brings together the %ers with their insight, brand, agency and R&D teams to turn insights and concepts into something real and tangible that consumers want to buy. It allows consumers to come up with their own ideas and product designs, as well as ways to make them happen and bring the product to life in the marketplace. It involves consumers earlier in the innovation and marketing process and keeps them involved for longer. This has injected fresh and different ways of thinking and has been incredibly disruptive, producing robust ideas that Unilever and their agencies would not necessarily have considered.
- A greater ability to sense emerging market opportunities before the competition More effective “unlearning” of established assumptions and practices through open-mindedness, shared vision and an enhanced commitment to market experimentation and organisational learning. Validate the knowledge already accumulated in the organisation An enhanced ability to co-create mutual value on an ongoing basis; value in the form of personalised, unique experiences for the customer and higher profitability and growth through higher levels of customer loyalty for the firm Expanded market share
- -Markets & industries & companies & systems & people do nor change quickly. So it may take quite some time before the whole world is co-creating -Collaboration is a lot harder than competition -The concept challenges many of the habits of the managers. To change mind – set of people within a company into the way that an external customer thinks, is not easy.
- -Ethnography - immersion in low income consumers (living with them for few days) in order to launch the soap detergent ALA in Brazil. -Insight activator process - The Insight Activator was a valued insight-hunting tool to help Unilever Marketing and R&D people to acquire insights and translate them into platforms -fast track insight activator- Some phases were redesigned in order to be more cost and time effective without losing quality, especially to attend issues of short term innovation projects such as re-launches or freshen up current brand positioning.
- - Dove's real women campaign puts the consumer front and center of the marketing effort by making her, not the product, "the star" of the campaign. - Doritos and Chevrolet have engaged in co-creation by inviting consumers to create advertising for their respective brands. - In fact, Cannes advertising awards the prestigious Cannes advertising awards have acknowledged the importance of co-creation by sponsoring, along with yahoo, a global competition for consumer-generated advertising.
- Looking at the major changes in the future, we conclude that there will be two directions (Figure 1). The first direction is the blending of the service itself and the channel through which it is provided into everyday life. As a result, consumers will gradually lose the awareness that “at this moment, I am using financial services provided by a financial institution.” The second direction is that consumers and financial service providers will co-create financial services together that will be services that meet the complex and diverse needs of individual consumers.
- - … - The lifestyle of consumers varies from individual to individual - At Capital One Financial, a major retail financial service company in the U.S., diverse products including furniture purchase loans and second-hand car loans customized for individual customers are proposed on such occasions.
- TEST THE POWER OF PARTICIPATORY MARKETING YOURSELF: TRY IT ON YOUR BOSS TO NEGOTIATE A SALARY RISE! - SIMPLY INVITE YOUR BOSS TO PARTICIPATE IN YOUR LIFE BY ASKING FOR ADVICE - THEN ASK FOR A SALARY RISE! YOUR PARTICIPATORY MARKETING CAMPAIGN WILL HAVE MADE YOUR BOSS MORE LIKELY TO GIVE YOU THE RISE!
- Snakes on a Plane is a cult high concept. horror-thriller feature film starring Samuel L. Jackson. It was released by New Line Cinema on August 18, 2006 in North America. The film, directed by David R. Ellis ( Final Destination 2 , Cellular ), was written by David D'Alessandro, John Heffernan, and Sheldon Turner. The movie gained a considerable amount of attention before its release, forming large fan bases In response to the Internet fan base, New Line Cinema incorporated feedback from online users into its production. and added five days of reshooting. Before & after shooting days.
- Open source is a development methodology,[1] which offers practical accessibility to a product's source (goods and knowledge). Some consider open source as one of various possible design approaches, while others consider it a critical strategic element of their operations. Before open source became widely adopted, developers and producers used a variety of phrases to describe the concept; the term open source gained popularity with the rise of the Internet, which provided access to diverse production models, communication paths, and interactive communities.
- Company – will be invisible body which will give concept of the product Crowd will contribute to the idea & finance Crowd will build it under companies supervision Crowd will only sell it There will be incentive