Brand strategies exist to facilitate the creation and maintenance of brand image, brand identity and brand positioning. These strategies work towards maximising organisational efficiency and generating resources, and both are shared aims of the private and charity sector.
Co-creation, and the birth of the ‘prosumer’ which describes any form of interaction between a consumer and a company, or a consumer and a consumer resulting in the production of something of value, falls into three areas: product, service and experience. In an age where the ever-evolving advancements in digital media allow relationships between consumers and brands to be more intertwined through direct access and ease of communication, consumers can now find themselves in positions of more power than producers.
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