Co-creation of Brand Value In Startups
Abstract: Startups face a wide range of opportunities and challenges when it comes to building their brand value and by extension brand image, due to possessing both limited financial and human resources. Hence, developing a distinct and enduring brand is a critical competitive imperative for them. Evidence exists to suggest that co-creating brand value is an effective means of achieving this. This paper looks at how startups can co-create brand value, through the medium of social networks, that may lead to a favorable brand image. This thesis study adopts interpretivism as its main research philosophy. The thesis is based on inductive reasoning and qualitative research methods through multiple case study research, with a combined research design of explorative and descriptive. The study uses semi-structured interviews and a literature review to collect primary and secondary data. This study suggests that co-creation is a creative and innovative strategy. It is used by companies to co-create brand value through social networks, where factors such as trust, accessibility, flexibility, and commitment, play a substantial role for engagement and brand image building through co-creation.
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