Co-creation of value by open innovation: unlocking new sources of competitive advantage.

Garcia Martinez, Marian (2014) Co-creation of value by open innovation: unlocking new sources of competitive advantage. Agribusiness: An International Journal, 30 (2). pp. 132-147. ISSN 1520-6297. (doi:https://doi.org/10.1002/agr.21347) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided)

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Official URL
http://dx.doi.org/10.1002/agr.21347

Abstract

A focus on the consumer has been recognized as the key to unlocking new sources of competitive advantage. This paper looks at this new perspective in value creation, where personalized consumer experience takes central stage as opposed to a product and firm-centric view. Through an explorative case study, the paper illustrates how a joint innovation effort between Molson Coors Brewing Company UK (MCBC-UK) and a supplier, is leading to more open approaches as consumers are involved in the process. By understanding what consumers’ value, and engaging in active dialog and interaction, MCBC-UK has been able to develop superior value propositions relevant to their target consumer base. The case underscores the role of consumer value creation in a commoditizing world, where companies can seek to maximize the lifetime value of desirable consumer segments, by taking consumers as a partner or co-producer instead of an external element. Food and drink companies have the opportunity to add value and extricate themselves from commodity sectors, where the lowest cost provider holds sway by embracing consumers’ ideas as part of the innovation process.

Item Type: Article
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions: Faculties > Social Sciences > Kent Business School
Depositing User: Marian Garcia
Date Deposited: 15 Jul 2014 09:25 UTC
Last Modified: 29 Apr 2015 08:39 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/41761 (The current URI for this page, for reference purposes)
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