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1. Table of contents
INTRODUCTION
1.1 BACK GROUND AND SUMMARY
1.2 OBJECTIVES
1.2.1 NEED AND SIGNIFICANCE OF STUDY
1.3 METHODOLOGY
1.3.1 SOURCES OF DATA
1.3.2 DATA TYPE AND COLLECTION
1.4 LIMITATIONS OF STUDY
2. OBSERVATION AND ANALYSIS
3. FINDING AND CONCLUSION
3.1FINDING.
3.2 REMARKS
BIBLIOGRAPHY
2. Introduction
Back ground and summary of the case study
In today’s markets, technology has provided consumers with access to unlimited amounts of information and an ability to
communicate with other consumers and companies anywhere in the world. This has provided them with a sense of ‘‘empowerment.
One context in particular where consumer cocreation is increasingly vital is the area of new product development (NPD). Consumers
are able and willing to provide ideas for new goods or services that may fulfill needs that have not yet been met by the market or
might improve on existing offerings.
Thus, cocreation in this context is defined as ‘‘a collaborative new product development (NPD) activity in which consumers actively
contribute and select various elements of a new product offering’’
Consumer cocreation represents an attractive approach for companies for a variety of reasons. In particular, ideas generated through
cocreation will more closely mirror consumer needs. However, this process is often rather difficult because these needs are often
complex and may not always be identified through traditional marketing research methods. It is therefore not surprising that the
Marketing Science Institute has listed integrating consumers into the innovation pro- cess or cocreation as one of their top research
priorities for 2008–2010.
3. Objectives
The general objectives of this case study is primarily designed to enable the customers shift the
focus to the B2C context B2C markets to improve the interaction with consumers during NPD in
order to reduce failure rates and to increase the financial returns from high investments in the
development of new product and services. The specific objectives are jotted down in nutshell below;
differentiation your products
To promote your solution
To acquire customers
To build your brand
Maintaining high customers satisfaction
Create cost effective
Solve a problems
Improve quality
Specific Objectives
to develop a research agenda that provides a deeper understanding and answer to these important questions.
To improve the interaction with consumers during NPD in order to reduce failure rates and to increase the financial returns from
high investments in the development of new products and services
5. Methodology
This article has prepared on the basis of Consumer Cocreation at Different Stages of NPD.
New products development steps
1.new products strategy
2.Idea generation
3.idea screening
4.concept development
5.marketing strategy
6.business analysis
7.product development
8.Test marketing
9.Commercialization(when ,where,whom,how)
6. New product development categories
1. New to the world
2. New to the product line
3. Improvement and revision of existing products
4. Additions to the existing products line
7. Sources of data
Data collection and data type
For the article the data are collected from the primary source and secondary source.They are as follows
Primary Data:
Researrh gate by
1wayne D. Hoyer
,2 Rajesh Chandy
3 Matilda Dorotic
4 Manfred Krafftand Siddharth S. Singh
Secondary Data:
1. Company employees
2.Customers
3.competitors
4.outside investors
5 Acquisition and channel members
9. Finding and conclusion
According to the results of the research, three-quarters of respondents had never
participated in co-creation activities. Some reasons became apparent, with the majority
(42%) of respondents indicating having had no knowledge of possibility to take part,
however 81% of all respondents indicated their interest to participate in co-creation
activities related to NPD processes in the future. The most popular reasons for such
interest were enhanced knowledge of product trends, related products and technology
(47% — strongly agree; 23% — aggregate
Improved satisfaction of customer needs (57% — strongly agree; 29% — agree) and a
possibility to spend some enjoy-able and relaxing time (23% — strongly agree; 33%
agree;
To understand the respondents in tension to participate in the future cocreation activities
cluster analysis were used .
10.
11.
12. Remarks
The practical implications of these findings inform companies about a motivated co-
creator and keys to the success of the co-creating activity. Motivation can be
achieved by supporting and promoting the six perceived benefits, particularly those
related to the social aspect, such as enjoyment and stimulation of the mind as well as
benefits related to the pragmatic aspect, such as enhancing the knowledge of the
product, technology or brands. Clearly, consumers would be willing participate more
if the process offered enjoyment and entertainment as well as provided insights and
knowledge of products and technologies.
13. Reference
Adams-Bigelow, Marjorie E. (2004), ‘‘First Results From the 2003
Comparative Performance Assessment Study (CPAS),’’ in PDMA
Handbook of New Product Development, 2nd ed, Kenneth B.
Kahn, ed. Hoboken, NJ: John Wiley, 546-5666
Algesheimer, Rene, Sharad Borle, Utpal Dholakia, and Siddharth S.Singh (2010), ‘‘The
Impact of Customer Community Participation on Customer Behaviors: An Empirical
Investigation,’’ Marketing Science, 29, forthcoming .
Beer, Jeff (2007), ‘‘Threadless Fighting for the T-shirt Democracy,’’
Advertising Age’s Creativity, 15 (9), 54, October.
