NOT RUNNING IN 2017/18
Increasingly consumers and firms work closely together in the value creation process. Firms such as Audi and Nike allow their customers to directly tailor products to their own taste. Other firms like Facebook and Uber rely heavily on consumer content or consumer labour to create additional value for other consumers. To be successful these new business models often use non-conventional marketing channels and strongly rely on (mobile) information technology to interact with consumers. This course explores how firms can work with consumers across various stages of the consumer decision making and consumption process to create greater value for the consumer him- or herself as well as for other consumers.
Relevant theory and methods are introduced and assigned papers are discussed in class. Students discuss how the theory and methods from the papers could be applied in a realistic business setting. Students need to provide examples of (possible) applications. Many example cases will be discussed in class and will be presented by students. These cases as well as a larger team business case assignment draw a close connection between theory and practice.
The aim of this module is to introduce students to a consumer-centric perspective on marketing value creation. This perspective draws on a clear understanding of different stages in the consumer decision making process. Students are challenged to find ways for firms to best meet consumer needs in these different stages. In addition they learn to analyse how consumers themselves can also become part of the value creation process, not only for their own consumption value, but also to create greater value for other consumers.
More specifically, the first objective of the course is to provide students with a better understanding of how firms and consumers interact to create greater consumer value and how this process is organized. Different stages in the value creation process in which consumer-firm interactions take place are defined and analysed (the “customer journey”). The various marketing channels that can be used for these different interactions receive special attention.
The second objective of the course is for students to learn how to analyze consumer decisions in each of the interaction stages. The course focuses on consumer information search, consumer purchase decisions, consumer product experiences, and consumer product evaluations. Two key questions guide these analyses: 1. How can individual consumers best be supported in the marketing value chain? 2. How can consumers be activated so that they themselves become value creators in the marketing value chain?
Finally, the third objective of the course is to allow students to develop knowledge of current examples of firms’ usage of (information) technology to support consumer value creation in the marketing value chain.
- New developments in marketing value creation
- Product recommendations
- Open innovation
- Brand communities
- Demand-driven supply chains
- Customers as sellers
- Creating great consumer experiences
- Staying in touch with customers
Individual 2 hour exam - 40% of grade
Three in-class team presentations (approx. 10 slides each) - 30% of grade
Written team assignment report (approx. 15 pages) - 25% of grade
Small individual assignment (approx. 2 pages) - 5% of grade
The course has a reading list of required and recommended papers and required case studies. Details provided in module handbook.