CO-CREATION FOR VALUE CREATION: A BASIS FOR PRODUCER-CONSUMER SYNERGY

Type: Project Materials | Format: Ms Word | Attribute: Documentation Only | Pages: 56 Pages | Chapters: 1-5 chapters | Price: ₦ 3,000.00

1,954 marked this research material reliable.
Call or whatsapp: +2347063298784 or email: info@allprojectmaterials.com
CO-CREATION FOR VALUE CREATION: A BASIS FOR PRODUCER-CONSUMER SYNERGY

CHAPTER ONE

1.1  Background To The Study

Co-creation constitutes that initiative of organizational management initiative, or form of economic strategy, which   brings different parties together such as the firm and its customers to collectively produce a valued outcome mutually. The process elicits the contribution of new ideas from the customers which is subsequently inculcated as a blend of new ideas to the organization. The Value is co-created when the customer utilizes his personal experiences in the firm's product-service proposition – to create value best suited for the customer’s utility and which provides greater value for the firms product-service investment in the form of increased revenue, new knowledge, profitability and superior brand loyalty and value. Scholars C. K. Prahalad and Venkat Ramaswamy (2000) Harvard Business Review article, "Co-Opting Customer Competence”. They defined co-creation as “The collective creation of value by the firm and its customer; allowing the customer to inculcate their service experience to create the value which suit them (Prahalad and Ramaswamy, 2004, p. 8). Co-creation Processes entails two fundamental steps: Contribution which is the Submission of contributions by the public to the firm and Selection where the best submissions are selected. The term ‘value’ is viewed from different perspectives including the strategic value, economic value or service customer, provider (Helkkula, Kelleher & Philström 2012, 60)

Therefore, the roles in value creation are imprecise and equal thus making all actors the co-creators of value.

 

1.2  Statement of the Problem

Co-creation of value involves the collective effort of both the firm and the customers. Co-creation constitutes that initiative of organizational management initiative, or form of economic strategy, which   brings different parties together such as the firm and its customers to collectively produce a valued outcome mutually. The process elicits the contribution of new ideas from the customers which is subsequently inculcated as a blend of new ideas to the organization. The Value is co-created when the customer utilizes his personal experiences in the firm's product-service proposition – to create value best suited for the customer’s utility and which provides greater value for the firms product-service investment in the form of increased revenue, new knowledge, profitability and superior brand loyalty and value.Consequently significant challenges exist as Successful co-creation requires two fundamental  steps which consist of  Contribution of ideas where: the firm is faced with the challenge of convincing the customer to make contributions towards the creation of value to a value  proposition .However the collection of  contribution from customers  is  not an easy task as many of this customers have busy schedules to attend to the firms calls . As a result, most co-creation efforts  are not successfully carried out .Secondly the challenge of the selection process is that most submissions are not very useful, impractical of making the selection is somewhat  difficult to implement. Firms are in a dilemma when many of the customer submission is on the negative side of profiting the firm as the risk of possible fallout with the customer exist if their opinion is rejected and not inculcated in the co creation process. Consequently the process of Co-creation and direct interactions between the customer and the firm is becoming more challenging in value creation. Therefore the problem confronting the research is to appraise Co-Creation for Value Creation: A basis for Producer-Consumer synergy

 

1.3  Objectives of the Study

To determine Co-Creation for Value Creation: A basis for Producer-Consumer synergy

The process elicits the contribution of new ideas from the customers which is subsequently inculcated as a blend of new ideas to the organization. The Value is co-created when the customer utilizes his personal experiences in the firm's product-service proposition – to create value best suited for the customer’s utility and which provides greater value for the firm’s product-service investment in the form of increased revenue, new knowledge, profitability and superior brand loyalty and value. Scholars C. K. Prahalad and Venkat Ramaswamy (2000) Harvard Business Review article, "Co-Opting Customer Competence”. They defined co-creation as “The collective creation of value by the firm and its customer; allowing the customer to inculcate their service experience to create the value which suit them (Prahalad and Ramaswamy, 2004, p. 8).

 

 

 

 

1.4  Research Questions

What is co-creation and value creation?

  What is Co-Creation for Value Creation: A basis for Producer-Consumer Synergy?

 

 

1.5  Significance of the Study

The study shall proffer appraisal of Co-Creation and Value Creation: A basis for Producer-Consumer synergy

Co-creation constitutes that initiative of organizational management initiative, or form of economic strategy, which   brings different parties together such as the firm and its customers to collectively produce a valued outcome mutually. The process elicits the contribution of new ideas from the customers which is subsequently inculcated as a blend of new ideas to the organization. The Value is co-created when the customer utilizes his personal experiences in the firm's product-service proposition – to create value best suited for the customer’s utility and which provides greater value for the firms’ product-service investment in the form of increased revenue, new knowledge, profitability and superior brand loyalty and value. Scholars C. K. Prahalad and Venkat Ramaswamy (2000)

 

 

1.6  Research Hypothesis

Ho Co-Creation for Value Creation as a basis for Producer-Consumer synergy is not significant

 

Hi Co-Creation for Value Creation as a   basis for Producer-Consumer synergy is significant

 

 

 

 

1.7  Scope of the Study

The study focuses on the appraisal of Co-Creation for Value Creation : A basis for Producer-Consumer synergy

 

 

1.8  Limitations of the Study

The study was confronted by some constraint including logistics and geographical factor.

 

1.9  Definition of Terms

CO -CREATION

Co-creation constitutes that initiative of organizational management initiative, or form of economic strategy, which   brings different parties together such as the firm and its customers to collectively produce a valued outcome mutually. The process elicits the contribution of new ideas from the customers which is subsequently inculcated as a blend of new ideas to the organization. The Value is co-created when the customer utilizes his personal experiences in the firm's product-service proposition – to create value best suited for the customer’s utility and which provides greater value for the firms product-service investment in the form of increased revenue, new knowledge, profitability and superior brand loyalty and value. Scholars C. K. Prahalad and Venkat Ramaswamy (2000)

 

Value Proposition

According to Chandler and Lusch (2015, 6 - 8), This constitute invitation to engage in service from one actor to another. This is the principle which is applied in the process of value creation.

 

Value creation

The fundamental focus of value creation lies in the inculcation of the customers experience together with the current and anticipated future visions (Helkkula et al. 2012, 65).

CO-CREATION FOR VALUE CREATION: A BASIS FOR PRODUCER-CONSUMER SYNERGY

Additional Information

  • The Project Material is available for download.
  • The Research material is delivered within 15-30 Minutes.
  • The Material is complete from Preliminary Pages to References.
  • Well Researched and Approved for supervision.
  • Click the download button below to get the complete project material.

Frequently Asked Questions

In-order to give you the best service available online, we have compiled frequently asked questions (FAQ) from our clients so as to answer them and make your visit much more interesting.

We are proudly Nigerians, and we are well aware of fraudulent activities that has been ongoing in the internet. To make it well known to our customers, we are geniune and duely registered with the Corporate Affairs Commission of the republic of Nigeria. Remember, Fraudulent sites can NEVER post bank accounts or contact address which contains personal information. Free chapter One is always given on the site to prove to you that we have the material. If you are unable to view the free chapter 1 send an email to info@allprojectmaterials.com with the subject head "FREE CHAPTER 1' plus the topic. You will get a free chapter 1 within an hour. You can also check out what our happy clients have to say.


Students are always advised to use our materials as guide. However, if you have a different case study, you may need to consult one of our professional writers to help you with that. Depending on similarity of the organization/industry you may modify if you wish.


We have professional writers in various disciplines. If you have a fresh topic, just click Hire a Writer or click here to fill the form and one of our writers will contact you shortly.


Yes it is a complete research project. We ensure that our client receives complete project materials which includes chapters 1-5, full references, questionnaires/secondary data, etc.


Depending on how fast your request is acknowledged by us, you will get the complete project material withing 15-30 minutes. However, on a very good day you can still get it within 5 minutes!

What Clients Say

Our Researchers are happy, see what they are saying. Share your own experience with the world.
Be polite and honest, as we seek to expand our business and reach more people. Thank you.

A Research proposal for co-creation for value creation: a basis for producer-consumer synergy :
Reviews: A Review on co-creation for value creation: a basis for producer-consumer synergy , cocreation, value, creation project topics, researchcub.info, project topic, list of project topics, research project topics, journals, books, Academic writer.
Co-creation constitutes that initiative of organizational management initiative, or form of economic strategy, which brings different parties together such as the firm and its customers to collectively produce a valued outcome mutually. The process elicits the contribution of new ideas from the customers which is subsequently inculcated as a blend of new ideas to the organization. The Value is co-created when the customer utilizes his personal experiences in the firm's product-service proposition – to create value best suited for the customer’s utility and which provides greater value for the firms product-service investment in the form of increased revenue, new knowledge, profitability and superior brand loyalty and value. Scholars C. K. Prahalad and Venkat Ramaswamy (2000) Harvard Business Review article, "Co-Opting Customer Competence”. .. entrepreneurship project topics

CO-CREATION FOR VALUE CREATION: A BASIS FOR PRODUCER-CONSUMER SYNERGY

Project Information

  • CATEGORY : ENTREPRENEURSHIP
  • TYPE : PROJECT MATERIAL
  • FORMAT : MICROSOFT WORD
  • ATTRIBUTE : Documentation Only
  • PAGES : 56 Pages
  • CHAPTERS : 1 - 5
  • PRICE : ₦ 3,000.00

Share Links

Download Post
Download Post

Search for Project Topics

Project topics in Departments

Do you need a writer for your academic work?