Crowdfunding - a tool to reframe trust and loyalty: Applying the co-creation of value during a crowdfunding campaign

Marco Cetti & Marc-Edwin Corso

Student thesis: Master thesis

Abstract

This thesis project explores and evaluates the potentialities of the crowdfunding campaign as a tool to implement the ‘co-creation of value’ theory and to increase the customer loyalty to the brand. The research is starting from the theoretical assumption that crowdfunding, thanks to its intrinsic characteristics, is a perfect platform where to implement the ‘co-creation of value’ theory. The theory concentrates on the importance to build efficient channels of encounter between the company and the customers, permitting the realization of a co-creation. This includes the possibility to have a two-way communication with the customers, to integrate them according to their competences in the development of the product/service, to share significant information, and consequently to organize a structured brand community. These procedures are essential to create value that, according to the Service Dominant Logic theory, cannot be produced autonomously by the company and then delivered to the customer, but it is the customer collaboration that gives value to the product and to the service. The thesis follows a deductive approach that, starting from the theory, is trying to corroborate it throughout a qualitative research based on critical rationalisms. The hypothesis is tested thanks a multi-case and cross-sectional study, based on semistructured interviews. The analysis has corroborated the theory with its model to apply the co-creation of value during a crowdfunding campaign. Indeed, the brand loyalty of the customers participating to the co-creation process is increased. Nevertheless, the crowdfunding platform on itself usually does not permit the full application of the model, and the successful campaigns are integrating a crowd-sourcing aside.

EducationsMSocSc in Service Management, (Graduate Programme) Final Thesis
LanguageEnglish
Publication date2014
Number of pages100