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dc.contributor.authorHelm, Clive
dc.contributor.authorJones, Richard
dc.date.accessioned2017-05-03T15:42:48Z
dc.date.available2017-05-03T15:42:48Z
dc.date.issued2010
dc.date.modified2011-02-10T08:35:11Z
dc.identifier.issn1350231X
dc.identifier.doi10.1057/bm.2010.19
dc.identifier.urihttp://hdl.handle.net/10072/36026
dc.description.abstractSuccessful brands are primary sources of a firm's value and often its most valuable assets. Governance of the considerable equity in them is therefore a critical issue. At the same time, the notion of co-creation, in which value creation for firm, consumers and stakeholders derives from providing a uniquely differentiated and meaningful brand experience, suggests that firms' capability to create long-term value comes not only from ownership of successful brands, but also from having the ability to consistently deliver the experience they promise. Co-creation therefore offers a whole new perspective on firms' fundamental ability to create and safeguard long-term value and brand equity. This article briefly discusses the limitations of earlier models of firms' value-creation capability when considered from this newer vantage point. Co-creation also implies that an organisation's internal value chain is only one part of a larger system in which value is created by managing a virtuous cycle of stakeholder expectations, successful brand delivery, satisfaction and loyalty that combine to generate sustainable and superior industry returns. We therefore propose a conceptual framework that extends the value chain into this wider context and offers a more holistic perspective for managing the creation and governance of brand equity. The main implications of this framework are: (1) to draw attention to the risks of narrowly interpreted value chain analysis that ignores the need for meaningful differentiation; (2) to emphasise the critical importance of successful brand delivery to long-term value creation and competitiveness; and (3) to highlight the need to develop both a more sophisticated conceptualisation and also measures of brand experience quality that are fully consumer- and stakeholder-, rather than firm-centric.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.languageEnglish
dc.language.isoeng
dc.publisherPalgrave Macmillan
dc.publisher.placeUnited Kingdom
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom579
dc.relation.ispartofpageto589
dc.relation.ispartofissue8
dc.relation.ispartofjournalJournal of Brand Management
dc.relation.ispartofvolume17
dc.rights.retentionY
dc.subject.fieldofresearchMarketing Communications
dc.subject.fieldofresearchBusiness and Management
dc.subject.fieldofresearchMarketing
dc.subject.fieldofresearchcode150502
dc.subject.fieldofresearchcode1503
dc.subject.fieldofresearchcode1505
dc.titleExtending the Value Chain - A conceptual framework for managing the governance of co-created brand equity
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.date.issued2010
gro.hasfulltextNo Full Text
gro.griffith.authorGyrd-Jones, Richard


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