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Aric Rindfleisch and Matt O'Hern define customer co-creation in digital marketing as "a collaborative NPD (new product development) activity in which customers actively contribute and/or select the content of a new product offering" and state that, like all NPD processes, it consists of two steps, namely contribution (of content) and selection (of the best contributions).
Experiments on co-production on public services have been launched in many countries, from Denmark to Malaysia, the UK and the US. [8]The term 'co-production' was originally coined in the late 1970s by Elinor Ostrom and colleagues at Indiana University to explain why neighbourhood crime rates went up in Chicago when the city's police officers retreated from the street into cars.
The co-creation of a company and consumers are contained in the co-marketing. Co-creation is a management initiative, or form of economic strategy , that brings different parties together (for instance, a company and a group of customers), in order to jointly produce a mutually valued outcome.
A marketing co-operation or marketing cooperation is a partnership of at least two companies on the value chain level of marketing with the objective to tap the full potential of a market by bundling specific competences or resources. Other terms for marketing co-operation are marketing alliance, marketing partnership, co-marketing, and cross ...
The 7Cs Compass Model is a framework of co-marketing, which is a marketing strategy where business entities collaborate closely in their marketing efforts. Also the co-creation marketing of a company and consumers are contained in the co-marketing. Co-marketing (or collaborative marketing) is a marketing practice where two companies cooperate ...
Co-promotion is a marketing practice that allows two or more companies to combine their sales force in order to promote a product under the same brand name and price with a single marketing strategy. [1] It is considered as one of the two major forms of joint marketing (Kalb 1988). Co-marketing is the other form and these terms are often ...
Consumer-to-business marketing or C2B marketing is a business model where the end consumers create products and services which are consumed by businesses and organizations. It is diametrically opposed to the popular concept of B2C or Business- to- Consumer where the companies make goods and services available to the end consumers.
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.