Value Co Creation And Its Marketing Application University Level Two Part Essay

3794 words - 16 pages

MKT2013 ASSIGNMENT 2: DETAILS
WORD LIMIT
This assignment has 2 PARTS
The word limit for the whole assignment is 2,500 +/- 10%.
The word limit for PART 1 is 1,500.
The word limit for PART 2 is 1,000.
NAMING YOUR FILE
Place your student name and number in the header above
Save this file as: Student Surname _Student first name_ Student number_ course code_ Assignment number
Example: Cormack_Ann_0061000000_MKT2013_A2
YOUR TASK
In Assignment 1 you examined an organization or enterprise in terms of traditional and digital marketing. In Assignment 2 you will examine the same organization or enterprise in terms value co-creation. This assignment has two parts. In PART 1 you will identify what you mean by value co-creation. You are putting forward an argument here so it MUST be based on course content and readings. (Please see a list of reading below).
Place your answers to PART 1 and PART 2 in the spaces provided below. Write in paragraphs – not dot points. Include in-text references and a reference list. Use Harvard referencing.
PART 1: What is value co-creation? (This is a short essay so it should include an introduction, main body and conclusion)
Among scholars, there has been some difficulty in defining the term ‘value co-creation’. This is largely due to no clear definition for the term ‘value’ has been agreed upon. Therefore, to answer the question of what value co-creation is, some research and discussion based on defining value in terms of value co-creation in the context of a producer to consumer relationship will be necessary. Following that, there will be a brief examination of how value has been traditionally produced and why this is changing, to understand the emergence of value co-creation in production processes. With that clarification in mind, it will then be a more straightforward matter to discuss what value co-creation is. It will be made clear that value co-creation is a process of equal interaction between companies and consumers, which increases innovation and produces value both symbolically and materially; this is achieved by focusing on how experiences shape consumer perception of value, through joint interaction between consumers and consumers, and consumers and producers, largely conducted on virtual platforms.
Value is a concept that is largely individual in nature; for any meaningful definition to be attempted, it is important that it is treated as a concept that can be interpreted differently by different people, and with these potentially conflicting ideas as a foundation, it is almost impossible to give a true definition of value (Grönroos & Voima 2013). Further to this, due to the complex and multidimensional nature of the value, it is important to note that this already arguably subjective concept is made more complex due to it being able to be perceived differently depending on time, place or situation (Pongsakornrungsilp & Schroeder 2011). Value can be understood to have two meanings, symbolic or material. Symbo...

RELATED

The Importance of Marketing and Customer Value, in reference to T2 - Monash University - Essay

1702 words - 7 pages Lessons and a Great Cuppa. Truly Deeply. Retrieved from http://www.trulydeeply.com.au/2013/09/t2-big-on-brand-lessons-and-a-great-cuppa/ Smith, J. B., & Colgate, M. (2007). CUSTOMER VALUE CREATION: A PRACTICAL FRAMEWORK. Journal Of Marketing Theory & Practice, 15(1), 7-23. doi:10.2753/MTP1069-6679150101 Stacey, M. B., Susan, S. K., & Bennion, M. (2003). What do they know? integrating the core concept of customer value into the undergraduate

The Value of Free Will and Oneness With God as explained by the storyteller of The Creation - The African Storyteller, UW-Madison - Essay

632 words - 3 pages Logan Parsons AF210: The African Storyteller Week 4 Essay Four: “The Creation” In The Creation, we are exposed to the author’s point of view on what the value of free will and oneness with god really is. Readers follow Kintu, or man, through the golden age and subsequently through the age of creation. Both portions of this quest have great value for this story, which we will look at below. Lastly, the moments of free will throughout the story

Digital Marketing in Contemporary Business and Future perspective - Australian Catholic University - Digital Marketing - Essay

2531 words - 11 pages . Besides that, also product or services reviews are part of earned marketing. Search engine optimization is part of a company’s earned digital marketing. (Machin, 2017) Search engine optimization is the efficient and correct use of content on your platforms. Websites with authentic content, efficient use of keywords, descriptive URL that fits the business purpose, creation of links with other websites or platforms and proper use of titles and tags

Marketing Metrics and Pricing Decision - S.P.Jain School of Global Management - Assignment Part 1

1769 words - 8 pages value of conventional pads. Hence, CMI should consider a price between $550- 650, in order to not exceed the perceived value in mind of the consumer, but at the same time receive a fair value for its breakthrough innovation. Question 3: What should be CMI’s strategic and marketing objectives in introducing the product? A pile driver is a device used to drive piles (poles) into soil to provide foundation support for buildings or large structures

Marketing Metrics and Pricing Decision - S.P.Jain School of Global Management - Assignment Part 2

1265 words - 6 pages profitability for all parties involved. This is especially because profitability on a per-customer basis was higher with the larger bottles. Heinz can emphasize on the mutual benefit of offering larger sizes. The 24-ounce Red Rocket can be phased out, despite its overwhelming popularity, and gradually be replaced by the larger bottles that yielded greater per-customer profitability and category growth for both retailers and Heinz. • Heinz can offer trade

Compare and contrast two chapters in The Man Who Mistook his Wife - University - Essay

1114 words - 5 pages Mistook His Wife for a Hat written by Oliver Sacks, Chapter 2: The Lost Mariner talked about a former navy called Jimmie, who had fought in World War 2, as he fought against Korsakov’s disease. Conversely, Chapter 7: On the Level talks about Mr. MacGregor, a 93 years old man who fought against Parkinson’s disease. Although the disease diagnosed and treatment process were different, by working with Doctor Sacks, which involved referring to older medical

Daoism and its link to Chinese culture - University of Oklahoma/ Humanities - Essay

1255 words - 6 pages Cassandra Snow LSTD-3113-401 Unit One Essay Daoism and Its Link to Chinese Culture Daoism has been a part if Chinese culture since 1000 B.C.E., maybe even earlier. In equal parts being a philosophy and a religion, Daoism is an expression filled with many practices. All these practices are centralized around prolonging and enriching life. The definition of Daoism can be confusing to some but those that follow the belief explain it as living with

Globalisation and its effects: problems with definition - Murdoch University, politics - Essay

2664 words - 11 pages POL161 Assignment 2: 2000 Word Essay Matt Benson-Parry 33553321 POL161 Assignment 2: 2000 Word Essay Matt Benson-Parry 33553321 While some critics have argued that globalisation and its effects are easy to define and quantify, others have claimed that globalisation comprises disparate and complex forces that are difficult to define and assess. Which side do you agree with and why? Globalisation​ is central to contemporary world politics and

Colorism and its role in today's society - University of Michigan / English 1010 - Essay

1204 words - 5 pages under the radar. Paying attention to the actual definition is extremely important. Operating off of that definition we can then begin to further our understanding pertaining to its origin, its current role in our society and how to improve moving forward. Understanding the way it came about from its creation in slavery is the very first step to fixing the issue. Slave owners did their best to brainwash those in and outside of their living quarters

Assessment in social work – application to a case study - The Open University - Essay

2097 words - 9 pages This essay will look at the social work assessment process through the story of Angharad who is a single, retired primary teacher after years of independent living found herself reaching crisis point due to physical and mental health decline (The Open University, 2016a). An assessment to establish what services are needed to help Angharad is required, while her needs and views are kept at the centre so she feels empowered in her situation (SSSC

Understanding health and safety - A level - essay

5567 words - 23 pages controlled. This act controls- · Dangerous substances and emissions · Creates the health and safety commission · Creates the health and safety executive · Sets out health and safety offences and punishments · & creates the employment medical advisory service. For example; all workers must co-operate with employers and co-workers to help everyone meet their legal requirements. Also as a worker, if they have specific queries or concerns relating

Discuss the ways in which The Duchess of Malfi tries to invoke pity and fear in its audience. - University - Essay

1462 words - 6 pages Discuss the ways in which The Duchess of Malfi tries to invoke pity and fear in its audience. The Duchess of Malfi is a Jacobean, Renaissance play written by the English Dramatist John Webster. Throughout this play, Webster invokes pity and fear into his audience through violent scenes and themes of death, secrecy and corruption. These themes are conveyed through the main characters and their moral perspectives; the evil moral actions that are

Corporation Law and its impact on firms - Monash university - Assignment

992 words - 4 pages acting through its directors, officers and other agents raises the question of to what extent is a company bounded by the acts of these significant individuals. [4.03] Under section 128, a third party dealing with a company are entitled to make the assumption outlined in section 129. The assumptions in section 129 provides that a third part who is acting in good faith, can make the assumption that the person with whom they are dealing with has

The Creation of the Musical Canon and Different Artists' Responses to It - Music 15 - Essay

1321 words - 6 pages works of the past great composers, such as Haydn, Mozart, and Beethoven, both for inspiration and their performances which was the beginning the idea of “masters” and a “masterpiece” (Burkholder 117). This was a change from the original purpose of music because as Burkholder states, “the concert...took on the atmosphere of a lecture, requiring background study and concentration on the part of the audience(117)” while in the generations before it was

Zara Case Study for Marketing Management class. - Lakeland University/Marketing Management - Essay

1139 words - 5 pages has adapted to couture designs, manufactures, distributes, and retails plentiful amounts of clothes within approximately two weeks after the original design makes its first appearance on the catwalks. Zara makes approximately 85 percent on the full price clothes they sell, which is above the industry average (60-70 percent). On top of this, unsold items account for just less than 10 percent of its stock, which the industry average is about 17-20