Riassunto analitico
Customer brand value co-creation is a phenomenon started to be studied from 2004 by Prahalad & Ramaswamy. In these years, the use of the term growth exponentially, assuming different meaning depending on the different level of the customer involvement into the company supply chain. The purpose of the thesis is to investigate this new marketing approach with the aim to emphasis the role of the customer in to the company decision making. Afterwards, the paper is focused on the fashion industry and, on the analysis of a fashion brand entering in new markets and testing co-created approach to introduce itself. The following thesis is structured into five sections: the first part is the introduction of the brand and customer value creation. Specifically, how it is generated brand and customer value, the evolution of the customer role, from a passive to an active role, and finally the relationship between brand and customer. The second section is an attempt to define the notion of value co-creation. It starts from a literatures review with its advantages and disadvantages. Then it goes through the different application methods, from the design of new goods to an open business model. Besides the outline of the value co-creation, also the notion of innovation has to be rethought in collaboration with the customers. The third section develops the concept of value co-creation applied to the digital marketing, in particular, the significant roles of social media and online brand communities to share ideas and develop new concepts. It will be illustrated the way in which companies exploit these channels to interact with customers and engaged them into a co-create brand experience. After the general explanation of the value co-creation, the forth section will deepen the fashion industry, with the peculiar creative process and the unique product lifecycle. Co-creation, with his multiple definitions and elements, could be projected into the fashion industry, and consequently companies cooperate with fashion consumers through the use of social networks in collaboration with fashion influencers. The last section is dedicated to the analysis of a case study, the Giorgio Armani entry level brand: Armani Exchange. It is decided to investigate this fashion brand because its connection with the value co-creation theories and his business history. Armani Exchange is a brand created in 1991 by Giorgio Armani, sold only in American and Asia markets. From 2018, the brand is starting to be sold in Europe market, with a different positioning and different business strategies. The methodology is based on the personal internal observations through a six months internship in the Production Planning office of Armani Exchange linked to the top management interviews. As last section, it will be shown the results of the investigation about the co-creation dynamics in Armani Exchange phases of the collection planning and marketing strategies.
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Abstract
Customer brand value co-creation is a phenomenon started to be studied from 2004 by Prahalad & Ramaswamy. In these years, the use of the term growth exponentially, assuming different meaning depending on the different level of the customer involvement into the company supply chain.
The purpose of the thesis is to investigate this new marketing approach with the aim to emphasis the role of the customer in to the company decision making. Afterwards, the paper is focused on the fashion industry and, on the analysis of a fashion brand entering in new markets and testing co-created approach to introduce itself. The following thesis is structured into five sections: the first part is the introduction of the brand and customer value creation. Specifically, how it is generated brand and customer value, the evolution of the customer role, from a passive to an active role, and finally the relationship between brand and customer.
The second section is an attempt to define the notion of value co-creation. It starts from a literatures review with its advantages and disadvantages. Then it goes through the different application methods, from the design of new goods to an open business model.
Besides the outline of the value co-creation, also the notion of innovation has to be rethought in collaboration with the customers.
The third section develops the concept of value co-creation applied to the digital marketing, in particular, the significant roles of social media and online brand communities to share ideas and develop new concepts. It will be illustrated the way in which companies exploit these channels to interact with customers and engaged them into a co-create brand experience.
After the general explanation of the value co-creation, the forth section will deepen the fashion industry, with the peculiar creative process and the unique product lifecycle. Co-creation, with his multiple definitions and elements, could be projected into the fashion industry, and consequently companies cooperate with fashion consumers through the use of social networks in collaboration with fashion influencers.
The last section is dedicated to the analysis of a case study, the Giorgio Armani entry level brand: Armani Exchange. It is decided to investigate this fashion brand because its connection with the value co-creation theories and his business history. Armani Exchange is a brand created in 1991 by Giorgio Armani, sold only in American and Asia markets. From 2018, the brand is starting to be sold in Europe market, with a different positioning and different business strategies.
The methodology is based on the personal internal observations through a six months internship in the Production Planning office of Armani Exchange linked to the top management interviews. As last section, it will be shown the results of the investigation about the co-creation dynamics in Armani Exchange phases of the collection planning and marketing strategies.
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