Ideas-Innovation: Innovation & Recession: Innovating Together

Ideas-innovation.blogspot.com

Hi all

Ford Motors Co. will be introducing the new F-150 truck soon which it has made in colloaboration with Harley Davidson. This will be the 14th Truck that both companies have designed together. (http://sg.news.yahoo.com/ap/20090210/tbs-auto-show-harley-ford-f8250da.html)

Although such kinds of collaboration is not new and companies do colloborate with each other but with the economies facing Downturn, can such strategy (collaborate & Co- Create) be a good Idea to come up with new products & experiences and offer customers something different, integrating elements of two different brands together.

But's what are the benefits and in what way companies can Innovate by collaborating.

Benefits:

Creates Curiosity among buyers: In times like these Companies resort to cut costs be it marketing, advertising, etc. Different companies coming together, creating & offering products & services creates curiosity among buyers & If a product/service is able to create curiosity among buyers then less marketing expenses will have to be incurred.

Learning Experience: Collaborating & Innovating with companies/ customers is a great way to learn & infuse creativity into your Teams. Different people brings in different & fresh perspectives which are extremely useful.

Creating new Value Propositions: Collaborating together helps in redefining/ Creating new value Propositions. I guess this is the right time to have a relook at the core value proposition which your product & brand is offering & what elements should be integrated in the new collaborated product/ service

Sharing of Resources: Resources are limited & in present times they become even more important. Colloboration & innovating with each other allow Resources & capabilities to be shared thus providing benefits to each other.

One of the company which is Innovating based on collaboration & co Creation is P&G. Apart from co- creating & innovating with customers, it is also doing so with Retailers (with Target, Wal-Mart), Suppliers & Competitors (with Clorax).

Innovation through Colloaboration & Co- Creation can be a great way to come up with new value propositions ,offer products & services & also to infuse fresh creative thinking into the organisations.

So can we expect lot more Colloaborations & Co Creation activity taking place in upcoming periods.

Coming back to Ford- Harley Davidson Partnership, Check out the upcoming F150 Truck.

Enjoy the ride