Brand managers are now analyze that co-creation is a relatively new and critical development but necessary to keep the brands within the field of innovation. The essential four building blocks by which co-creation can occur are as: dialogue, access, transparency and risk. Along with these building blocks framework brand managers suggest that for brand management and brand governance must including the possibility that brands may allow society to regain control over massive international corporations which actually lost during the recent period of globalization. Market Positioning 5 DVD Bundle
According to marketers research points “the proactive roles consumers play in the creation of value” for companies. The concept of co-creation was an extension of the idea developed by researchers interested in user-driven product innovation. As the co-creation efforts they studied demonstrated impressive increases in value, the phenomenon garnered considerable attention outside the innovation field in which it spread to marketing and, more recently, to branding.
In the case of branding, co-creation expands to embrace other stakeholders than consumers. Sunsilk shampoo and seven well-known hair stylists have all equated co-creation with the era of stakeholder-focused branding. So, with them all it’s calling now as a co-creation with new brand logic. Meanwhile, stakeholders’ participation in brand co-creation as an issue of brand governance is largely because it implies that organizations share control over their brands with stakeholders. These studies indicate that co-creation resonates with an ever increasing number of scholars who take the view that brand meanings and values emerge from stakeholder engagement with a company. In other words brand value is co-created through network relationships and social interactions among the ecosystem of all stakeholders.
Defining brand co-creation as an emergent phenomenon based in networks of different and constantly changing stakeholder configurations, Hatch and Schultz, proposed the concept of “enterprise branding”. According to their perception, an enterprise brand represents not only the organization, what a corporate brand does, but also all Stakeholders engaged by its purpose and in its activity. Thus, the enterprise brand not only emerges as a co-creation of all stakeholders, but is also driven by the identity they create together and define for themselves, supported by the interdependent activity that ranges from buying and selling products and services, to dialoguing about them in term of plans.
In a nut shell, “Co-creation” is a process between consumers and marketers that develops through a series of “encounters”. Marketers, pointed to it as community involvement and knowledge sharing which is a foundation for co-creation and stressing that consumers rarely engage in co-creation.
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