Co-Creation in unternehmerischen Entscheidungsprozessen in den Bereichen Marke, Marketing und Innovation im Privatkundengeschäft von Kreditinstituten
type: CreativeWork
description: The classic distribution of roles between producers and consumers, derived from the industrial age, is generating numerous sources of tension in the financial services segment. Competitive advantages no longer seem possible given the interchangeability of intangible financial products. Previously product-focused value chains and the marketing strategies derived from them have to undergo a fundamental paradigm shift. Banks are thus called upon to develop dynamic capabilities and to reconfigure their resources. Financial institutions in particular will have to break away from their provider-centred service provision and align value creation in the spirit of co-creation together with their customers. Service-dominant logic indicates that the value of service provision should not be measured in terms of production costs, which are then apparently consumed (devalued) by customers. Rather, a link to value only arises through the use of a service. The specific characteristics of financial services necessitate the participation of the customer in the provision of the service (e.g. financial advice). Customer participation in advisory and other services should be expanded to include extended participation and discretionary rights. Identity factors related to the corporate brand as well as to aspects of community, regionality and life interests are proposed as a means of achieving decisive customer engagement. In this respect, customer participation in corporate decision-making leads to a reciprocal increase in willingness to provide services as well as advantages in terms of benefits. The everyday problems in everyday life as well as the lifestyles and interests of the customer and their environment need to be taken into account. For this purpose, the design areas of brand, marketing and innovation are identified in the context of this paper, allowing customers to be involved as external actors in corporate decision-making. The criteria of co-creation in financial institutio…
abstract: The classic distribution of roles between producers and consumers, derived from the industrial age, is generating numerous sources of tension in the financial services segment. Competitive advantages no longer seem possible given the interchangeability of intangible financial products. Previously product-focused value chains and the marketing strategies derived from them have to undergo a fundamental paradigm shift. Banks are thus called upon to develop dynamic capabilities and to reconfigure their resources. Financial institutions in particular will have to break away from their provider-centred service provision and align value creation in the spirit of co-creation together with their customers. Service-dominant logic indicates that the value of service provision should not be measured in terms of production costs, which are then apparently consumed (devalued) by customers. Rather, a link to value only arises through the use of a service. The specific characteristics of financial services necessitate the participation of the customer in the provision of the service (e.g. financial advice). Customer participation in advisory and other services should be expanded to include extended participation and discretionary rights. Identity factors related to the corporate brand as well as to aspects of community, regionality and life interests are proposed as a means of achieving decisive customer engagement. In this respect, customer participation in corporate decision-making leads to a reciprocal increase in willingness to provide services as well as advantages in terms of benefits. The everyday problems in everyday life as well as the lifestyles and interests of the customer and their environment need to be taken into account. For this purpose, the design areas of brand, marketing and innovation are identified in the context of this paper, allowing customers to be involved as external actors in corporate decision-making. The criteria of co-creation in financial institutio…
author: Stern, P.
date published: 2021
date modified: 2026-07-24T03:03:54Z
provider: Middlesex University
publisher: Networked Digital Library of Theses and Dissertations
type: WebPage
source organization: Middlesex University / KMU Akademie & Management AG