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.
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
Source: youtube.com, http://sg.news.yahoo.com/ap/20090210/tbs-auto-show-harley-ford-f8250da.html