CoCreation Framework

8/8/2019 CoCreation Framework

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+Value Co-Creation: A New

Business Logic?


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+What does it buy consumers

and organizations?Access and transparency informed choices

Dialogue and risk assessment debate and co-develop policy

Access and dialogue thematic communities

Transparency and risk assessment co-develop trust

Prahalad and Ramaswamy (2004)


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+

Current forms of co-creationEmotional engagement

Self service

Concurrent experience

Self select

Co design


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+Tethered around consumer

experiences


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+What will some next

practices look like?


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+Next practices?

!Pay-Per-Use! consumers pay lower costs for each use of a group-owned facility,

product, or service; limits impact on their cash flow while

customer volume makes it sufficiently attractive for suppliers.

!Paraskilling! combines a No Frills model with disaggregating product into

simple standardized tasks that can be undertaken by consumerswithout specialized qualification (the IKEA model?)

! Shared Channels!reach into remote markets via piggybacking products and

services through existing customer supply chains, thus enablingrural consumers gain access.

Customer-facing business models in EMs

Monitor Group, Emerging Markets, Emerging Models, 2009


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+Next practices?

! Contract Production! directly involve small-scale farmers or producers in rural supply

chains; organize supply chain, provide critical inputs,

specifications, training, and credit; supplier provides assuredquantities of specialty produce at fair and guaranteed prices.

!Deep Procurement!bypass traditional middlemen, enable direct purchases from large

networks of smallholder producers, provide training for quality

!Demand-Led Training!pay third-party to identify, train, and place employees for job

openings at the edges of the formal and informal sectors.

Supplier-facing business models in EMs

Monitor Group, Emerging Markets, Emerging Models, 2009


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+

Closely follow what consumers want

Use cutting-edge technology

Non-traditional partnerships

Build local capacity

Design for usage situation

Add to value portfolio


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+Not Co-Creating ValueWhat are the costs?


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+

Marketing and Consumer behaviorMarketing as facilitator and structurer of mutual creation and enjoyment

of value

Customer is always a co-creator of value: there is no value until an

offering is used experience and perception are essential to valuedetermination

Value embedded in customers practices; suppliers motivation should be

to improve these practices occupy a valuable role in cust. activities

Payne, Storbacka and Frow (2008)


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+Co-Creating Value

! Opposite to restricting flow of info to consumers! Opposite to appropriating value! Opposite to planning for the lack of interactions!Anchor-point of value creation: individuals, community! Requires roles of producing and consuming to blur! Many current variants without requisite commitment to

involve

! Can we re-learn from ancient forums or marketplaces?

An idea yet to gain big currency in business world


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+Prof Julie Cohen,

Georgetown Law Schoolstart by looking at the relationships between self and culture, self

and community, and identify whats really necessary for humanflourishing

http://cyber.law.harvard.edu/events/luncheon/2010/01/cohen


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+Bringing People In:

Inclusion


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+Web links

! http://www.theindiastreet.com/2007/12/video-airplane-experience-for-indias.html

! Inclusive marketshttp://www.youtube.com/watch?v=KW5FKNpgg6I

! Inclusive democracyhttp://video.google.ca/videoplay?docid=512339375514796163

! HSBC ad lassi in washing machinehttp://adoholik.com/2008/09/27/hsbc-bank-washing-machine-

and-lassi/! Non-traditional partnership

http://www.hoise.com/vmw/05/articles/vmw/LV-VM-08-05-3.html

CoCreation Framework

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Transcript of CoCreation Framework