Empirical Study on Strategic Application of Co-creation Process on New Service Success Factors

SMC Author

Priyanka Shrivastava

Status

Faculty

School

School of Economics and Business Administration

Department

Marketing

Document Type

Article

Publication Date

2013

Publication / Conference / Sponsorship

International Journal of Sales & Marketing Management Research and Development

Description/Abstract

Co-creation occurs when companies collaborate with customers to understand their needs and expectations, thus creating an enhanced customer experience and generating more value for the customers. The paper provides a framework to understand the role of customer involvement on new service success factors. Though academic researchers and business managers accept the importance of customer involvement in new service development, but there is dearth of research quantifying the influence of customer involvement in the desired performance of new service development process (Alam & Perry, 2002). The paper established an understanding of the benefits that are a result of the co-creation process adopted by the company. For adopting the co-creation process, companies need to have a paradigm shift from their company-centric view of marketing to customer-centric view of marketing. The change is extremely demanding and companies have to transform their approach, structure and environment to engage customers in the co–creation process. This paper underlines the importance of customer involvement on new service success factors. The Hotel industry is chosen to achieve the mentioned objectives because of the high level of innovation activity which lays foundation for "Co-creation".

Scholarly

yes

Peer Reviewed

1

Volume

4

Issue

4

First Page

1

Last Page

10

Disciplines

Business | Economics | Marketing

Original Citation

Shrivastava, P., & Akhter, J. (2013). Empirical study on strategic application of co-creation process on new service success factors. International Journal of Sales & Marketing Management Research and Development, 4(4), 1-10.

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