The first part of this article clarified what co-creation is and what online co-creation communities are. The following part will explore the benefits and risks of co-creation in online communities for companies. Due to the variety of different communities, the focus will lie solely on company created online communities.
Read moreCo-creation With Online Communities: What Are The Benefits And Risks For Companies? Part 1: Co-creation and Online Co-creation Communities
Over the years the business world, especially marketers, became familiar with the omnipresent terms of customer involvement, engagement or crowdsourcing. But more recently, a new term is gaining popularity: co-creation.
Read moreGenerating Innovation with Crowdsourcing: How McDonald’s got 116.000 new Burger Creations within 5 Weeks
Today, the need for innovation is an integral part for companies in all industries. Developing innovative ideas and implementing them in everyday practice is seen as a core competency for long-term market positioning and economic growth (Fagerberg, 2005).
Read moreCrowdfunding for Established Companies: 5 Tips on How to Put Crowdfunding Platforms to Good Use When You Are Looking for More Than Money
Many marketers still think that crowdfunding platforms are solely used by start-ups and individuals. If used effectively though, established companies can benefit from numerous advantages.
Read moreThe successful use of consumer-generated advertising in content marketing Revealing the secret formula of GoPro
“People remember 20% of what they hear, 30% of what they see and 70% of what they see and hear” (Knight, 2013). When it is the case of reaching the next stage of content marketing, video is the buzzword of user-generated advertising (Trimble, 2014). With the emergence of free video-hosting platforms such as YouTube, individual consumers can create content about the companies and brands they love, dislike, or just want to comment on (Campbell et al. 2011). As a consequence advertising cannot be fully controlled by marketers resulting in a shift in power from the marketer to the consumer (Labrecquea, 2013).
Read moreThe Peer-to-Peer Sharing Economy and Those Service Elements
Ten years ago, Lusch and Vergo wrote an article in which they explored what they believed to be the next dominant logic of marketing, the so-called service logic. This logic suggests that firms should customize offerings and maximize consumer involvement to better fit consumer needs (Lusch and Vergo, 2004). Now, ten years later, this service-logic is more than accepted as many firms do not only provide a service to their consumers but are facilitating a service provided by consumers themselves (Wind, 2008).
Read moreNew Update Available: Identity 2.0 (Extended version) – Part 2
In the first part we found out that we, as individuals, have an extended digital self, which consists of different objects we gather around us, including online profiles and digital re-embodiments of ourselves. Although some characteristics of our representations might not completely mirror our real self, we are able to integrate them in our identity as long as we can identify with them.
Read moreNew Update Available: Identity 2.0 (Extended version) – Part 1
While we live in a highly digitalised world since quite some time now, I wonder why so many companies still struggle with the integration of “online and offline” channels in distribution and communication. Why do I assume that they are struggling? Because, as a Master’s student in marketing and consumption, this is exactly what University urges us to solve in the future. You find it in job descriptions and in journal articles.
Read moreSharing Your Home with Strangers - Collaborative Consumption with Airbnb
How come I, along with thousands of others, suddenly have the urge of living in strangers’ homes while travelling? I am a person who gladly avoids taking unnecessary risks and the bare thought of doing something ‘bad’ makes me quite anxious. Despite all of this, I have put my money and trust into people I have never met, multiple times, in the hope of getting to experience a good living accommodation during my travels.
Read morePART 2: COLLABORATIVE CONSUMPTION: WILL CAR SHARING REPLACE CAR OWNERSHIP?
In the first part we had a deeper look at the different concepts associated with the buzzword sharing. In addition, we analyzed how it can be distinguished from collaborative and access-based consumption, which are more accurate in order to describe the concept of car sharing. Furthermore, we came up with a definition of car sharing and we explained which circumstances have caused the rise of this phenomenon. One of the last points was that collaborative consumption is perceived as an alternative to ownership and Belk (2014) even suggests that we are entering post-ownership economy and that self-identity is influenced by what you can access instead of what you own.
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