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

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.