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CO-CREATION A NEW METHOD OF BUILDING BRAND LOYALTY & INNOVATION

Journal: International Journal of Management (IJM) (Vol.9, No. 6)

Publication Date:

Authors : ; ;

Page : 13-23

Keywords : Co-creation; Brand; Brand Loyalty; Customer Relationship Management; Brand Awareness; Innovation; Collaboration Partnership.;

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Abstract

Innovation in any form can bring overall new energy to brand loyalty. In an organization,especially in the service industry, co-creation is a business strategy which is an open innovation for consumers. This paper provides a conceptual understanding of how co-creation can add value in the service industry regarding brand loyalty as well as customer relationship management through some of its basic features of co-creation which include co-designing, collaborating, tinkering, and submitting. Co-creation sources are combined to generate new directional and mutual values. The co-innovation not only includes engagement, but also gives stakeholder co-creation, and compelling experience for value creation.

Last modified: 2018-12-06 21:05:22