Not a solo af­fair

The Smart Manager - - Gurumantra -

In the book Brand To­gether, the au­thors elab­o­rate on the need for com­pa­nies to in­volve em­ploy­ees, clients, and cus­tomers in the process of co-cre­ation and in­no­va­tion, to en­able a brand to suc­ceed. Com­pa­nies, the world over, have started un­der­stand­ing the im­por­tance of ‘co-cre­ation’ as an act of en­gag­ing with all stake­hold­ers and shap­ing col­lec­tive think­ing into busi­ness ideas. The ad­vent of so­cial me­dia and its sweep­ing im­pact across con­sumer seg­ments have lent a new mean­ing to this con­cept.

So­cial me­dia is chang­ing the game so far as brand man­age­ment is con­cerned. This has both a pos­i­tive and a neg­a­tive side. Brand man­agers are cer­tainly hav­ing to work a lot harder to cope with the in­flu­ences and pres­sures so­cial me­dia brings to bear. But at the same time, there are also some great op­por­tu­ni­ties wait­ing to be ex­ploited.

Brand man­agers too of­ten take their brand for granted. They be­lieve that as man­agers, they and they alone are cus­to­di­ans of the brand. The brand ‘be­longs’ to them. They fail to ap­pre­ci­ate the pow­er­ful role that con­sumers play in shap­ing the brand and build­ing its rep­u­ta­tion.

More re­cently, how­ever, the con­cept of co-cre­ation has be­gun to emerge. In co-cre­ation, brand man­agers rec­og­nize

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