We've got 236 shorthands for co-creation »
Acronyms that contain the term co-creation
What does co-creation mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: co-creation.
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Term | Definition | Rating |
---|---|---|
DC | Date of Creation | |
DCC | Digital Content Creation | |
AC | After Creation | |
DRC | Digital Reality Creation | |
SCE | Service Creation Environment | |
CRS | Creation Research Society | |
ICR | Institute For Creation Research | |
SCUMM | Script Creation Utility For Maniac Mansion | |
OMC | On-line Map Creation | |
MOC | My Own Creation | |
MOC | My Own Creation | |
VCL | Virus Creation Laboratory | |
CSE | Creation Science Evangelism | |
YEC | Young Earth Creation | |
CCE | Control Creation Edition | |
WSC | Web Site Creation | |
GCS | Game Creation System | |
ICC | Internet Content Creation | |
IC | Instant Creation | |
OEC | Old Earth Creation | |
OCC | Original Character Creation | |
TTC | The Third Creation | |
ZZT | ZZT Game Creation System | |
RCS | RPG Creation System | |
VCM | Value Creation Management |
What does co-creation mean?
- Co-creation
- Co-creation is a form of marketing strategy or business strategy that emphasizes the generation and ongoing realization of mutual firm-customer value. It views markets as forums for firms and active customers to share, combine and renew each other's resources and capabilities to create value through new forms of interaction, service and learning mechanisms. It differs from the traditional active firm – passive consumer market construct of the past. Co-created value arises in the form of personalised, unique experiences for the customer and ongoing revenue, learning and enhanced market performance drivers for the firm. Value is co-created with customers if and when a customer is able to personalize his or her experience using a firm's product-service proposition – in the lifetime of its use – to a level that is best suited to get his or her job or tasks done and which allows the firm to derive greater value from its product-service investment in the form of new knowledge, higher revenues/profitability and/or superior brand value/loyalty. Scholars C.K. Prahalad and Venkat Ramaswamy popularized the concept in their 2000 Harvard Business Review article, "Co-Opting Customer Competence". They developed their arguments further in their book, published by the Harvard Business School Press, The Future of Competition, where they offered examples including Napster and Netflix showing that customers would no longer be satisfied with making yes or no decisions on what a company offers. Value will be increasingly co-created by the firm and the customer, they argued, rather than being created entirely inside the firm. Co-creation in their view not only describes a trend of jointly creating products. It also describes a movement away from customers buying products and services as transactions, to those purchases being made as part of an experience. The authors held that consumers seek freedom of choice to interact with the firm through a range of experiences. Customers want to define choices in a manner that reflects their view of value, and they want to interact and transact in their preferred language and style.
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"co-creation." Abbreviations.com. STANDS4 LLC, 2024. Web. 29 Apr. 2024. <https://www.abbreviations.com/co-creation>.
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