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Digital Marketing : Assignment Solved

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COVENTRY UNIVERSITY
BACHELOR OF ARTS WITH HONOURS IN DIGITAL MARKETING 2021
FACULTY OF BUSINESS AND LAW

NAME : YAP JOEY
STUDENT ID : 3810JT6F
COURSE : (3008 MKT)CONTEMPORARY MARKETING
ISSUES
MODULE LEADER : SION HIN JUSTIN KUNG
DATE OF SUBMISSION : 17 MAY 2021
COURSEWORK TITLE : INDIVIDUAL REPORT – COURSEWORK
TOTAL WORDS COUNT : 2,750
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EXECUTIVE SUMMARY

This report gives an examination and assessment of the concept ofco-creationthat
helps with enhancing the customer relationships and innovation. Strategies for analyzing
this coursework includes academic research and theories.
Four major sections are discussed, starting with introduction of co-creation as an online
method for new product development process by enriching the companies with ideas from
external stakeholders around the world discussed by Fuller, Hutter, and Faullant (2011).
Three organizations chosen that demonstrate the applications of branded content on
social media are explored in this coursework, explaining how the theories of co-creation
can be applied to these companies. It further highlights the tremendous capability of
companies’ co-creations stages including channels and platforms and the requirements.
The report evaluates this range and concludes that consumers would interest in being
involved in the co-creation with their perceived experience.
Lastly,recommendations with guidance areprovided for innovation managers to
enhance their businesses by delivering a seamless yet enriching co-creation experiences
for participants.
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TABLE OF CONTENTS
EXECUTIVE SUMMARY ................................................................................................. 2
INTRODUCTION ............................................................................................................. 4
MAIN CONTENT ............................................................................................................. 5
CONCLUSION .............................................................................................................. 14
RECOMMENDATIONS ................................................................................................. 15
REFERENCES LIST ..................................................................................................... 16
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INTRODUCTION

Nowadays, companies confront challenges in this constantly-changing environment that
is to be followed with trending paces like up-da-ted technologies among competitors.
Companies ought to alter the custom innovation process towards accomplishing open
innovation practice (Khrystoforova and Siemeniako 2019). This process involved more
active contribution by other parties such as consumers, employees and publics who are
viewed as important assets for new item thoughts by organizations including the
consumers in trending new product development (NPD) process, termed as ‘co-creation’.
Co-creation is characterized as two-way social collaboration process between co-
makers. New products are launched with attributes like brand new function, higher-level
quality, satisfying wants, decreased manufacturing expenses by companies through
comprehensive understanding of consumer needs and inclinations. Customers’ opinions
and ideas are considered to be shared in NDP process (Khrystoforova and Siemeniako
2019).
Technological advancements have enhanced the capability of consumers to contribute
in NDP via Internet and online platforms. Stages of co-creation environment are built by
companies with equipment and infrastructure that benefit both parties. Companies need
to identify the motivators so consumers engage and actively, willingly share ideas for co-
creation (Khrystoforova and Siemeniako 2019).
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