Abstract
A new perspective in value creation is examined where personalised consumer experience takes central stage as opposed to a product and firm-centric view, and the ways in which open innovation and collaborative knowledge-creation processes influence the ability of organisations to innovate in new territories are discussed. A case study is presented of Molson Coors Brewing Company UK (MCBC-UK), a leading UK beer company part of the global Molson Coors group, which, in the search for value addition to remain competitive in a declining market, embraced collaborative open innovation. The joint innovation effort between the company and a supplier is leading to more open approaches as consumers are involved in the process. By understanding what consumers’ value and engaging in active dialogue and interaction, the company has been able to develop superior value propositions relevant to their target consumer base.
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