FIAT 500 by Yashmin Perez Lopez

Organisation and methodology:

yashminhola — 2024-05-30 08:53:56 UTC

1. What is the Fiat 500? From the customer perspective and company perspective.

2.Historically, why was the Fiat 500 important for the Fiat brand?

3.Define and describe value co-creation and how it applies Fiat 500.

4.Why did Fiat decide to engage consumers in a digital product co-creation project?

5.How did Fiat engage consumers in the co-creation of the Fiat 500?

6.What are some of the various results of the Fiat co-creation activity?

7. Search for other companies that have developed similar co-creation activities and write you conclusions.

1. What is the Fiat 500? From the customer perspective and company perspective.

yashminhola — 2024-05-30 08:56:32 UTC

The fiat 500, is a versatile and utilitarian brand. We can observe different perspectives being, from the consumer and the company.

- From the perspective of consumers, it is not only a brand, it is a lifestyle, this car embodies the Italian lifestyle and its daily life, which combines the modern and the retro and combines it in a single product, as well as the past and the future. For the consumer to have this car, is to get a new vision about the present, symbolizes the dolce vita; (sweet life) and economic revival.

- From the perspective of company, Fiat 500, is a strategic of attraction towards a contemporary and young public, for this the brand must know what it means for its sector. Part of that strategy was to make the brand interesting and attract that young sector, Thus, rejuvenating the brand through marketing and the power of commercial actions and product designs of the new strategy was to revitalize and rejuvenate the brand through product design. As a different sector approaches, embodying an urban product, versatile and available to all audiences, from the Fiat 500, new models have been developed.

2. Historically, why was the Fiat 500 important for the Fiat brand?

yashminhola — 2024-05-30 08:57:52 UTC

-The Fiat 500 was born in 1957, has a historical importance.

Was born by the request of the dictator Benito Mussolini who came directly to FIAT, he wanted to manufacture an economic vehicle and not exceed 5,000 lire, after several models to be able to fulfill the national request, the FIAT 500.

It is an iconic car, for the brand and for the period.

Dante Giacosa, engineer designer, was who created FIAT 500, wanted to design an efficient and versatile car, which was appropriate for the structures of the Italian roads (narrow and small), being called the concept of " urban car" and the first small car that maximized the interior space.

3. Define and describe value co-creation and how it applies Fiat 500.

yashminhola — 2024-05-30 09:05:41 UTC

-Co-Creation is the collaboration and interaction between companies and their consumers in order to create a product or service, adjusted to their preferences to meet their needs. It is a way to reinforce cooperation and improve the customer experience regarding the brand.

In Fiat 500, the value of the Co-creation, is implemented with a platform called "500 wants you". This platform develops, innovation and creativity, making its consumers feel part of the design of Fiat 500, is a way to attract and call attention directly and actively, its public. It is interactive, generating enthusiasm and creating high expectations and desire, reflecting in their consumers the impatience to be able to buy and test the rot that they themselves have helped create. This, has had several versions, they started creating it only for a limited time and in a single Italian language, where it has been verified that it works correctly, the managers of the marketing team, observed the good involvement by consumers, when participating in the development of the new car, thanks to this,updated the platform being this time being multilingual, this information received by consumers is valuable, and key to engage with them and understand them, In this way the communication between both is facilitated, only having to express and tangible the desire of the client.

4. Why did Fiat decide to engage consumers in a digital product co-creation project?

yashminhola — 2024-05-30 09:08:23 UTC

-Fiat decided to develop the platform "500 wants you" to create connections between Fiat and consumers and , customers and start creating in them consumer experiences, through the joint satisfaction and collaboration of the creation of the new product, this happens through the exchange of information between the two. Customers provide their point of view on the new Fiat 500, explaining how they would like it to be designed as much as the details that compose it for it was done all through the web. Thanks to the participation and involvement of customers, the brand was able to jointly develop its product, with the reliability that they would not risk ,not knowing how to focus towards their audience, since positively, had their perspective and point of view.

-The campaign wanted to implement this online Co- creation, taking a creative and innovative approach. The brand itself wanted to value all the preferences of consumers, in this way allowing all people to participate, giving the freedom to express themselves in a different way, and free, this was the best way to meet the needs of different types of consumers, thanks to the involvement of consumers increased the sales of the fiat 500, making the 500 copies sold out.

5. How did Fiat engage consumers in the co-creation of the Fiat 500?

yashminhola — 2024-05-30 09:08:38 UTC

-The brand organized the platform in the following way; to be able to capture the ideas of the different types of consumers loving the brand, of all professions. They organized several competitions, where they allowed themselves to develop their innovation, thus, providing the company with tools to contribute to innovation, being a platform called "conceptual laboratory". This made it easier for customers to imagine; they could add all kinds of features they wanted within their Fiat 500. It is a brand strategy where the brand creates the implementation of consumer sentiment and value towards the product.

Also, in addition to developing the innovation of customers, as I mentioned created emotions, they made customers connect with the brand, so interested in what the brand itself meant to them, So, how to share characteristics about the old model and new expectations and details for the new one. They made them feel part of it, as well as being part of the decisions of; co-meaning, co-design, co-pricing and co-promotion.

6. What are some of the various results of the Fiat co-creation activity?

yashminhola — 2024-05-30 09:08:48 UTC

"500 wants you" reflects the use of Co- creation where thanks to the result obtained, we can find multiple benefits:
It allows the interaction of knowledge in decision making with consumers in aspects such as: pricing, co-generation, co-promotion, thus, leading to the development of different services and products in relation to the preferences and tastes of your customers, thanks to the collabaración of the consumers the company reduces the risks of losses, thus having the advantage of the direct approach towards what they have to create. The implementation of customers is a very valuable resource, being an opportunity of strategy, which if tangible can result in fluctuating sales increase.

We also mentioned that as a result we will highlight the customer experience , being an intelligent way to get to know your target market directly knowing this, their needs and expectations, and be able to make them feel satisfied and complete, Thus, satisfying them emotionally. The perspective of the customer and the experience they receive is very important, because really, everything is focused on the customer, it is essential to interact with them and know how it should be done, so that you can understand them well and that it is easier for you to interact, as they behave and respond, it will be the reflection of reciprocal interaction. If positive feedback is reflected, it helps you to maintain the loyalty of your consumers, so being happy

Conclusion

yashminhola — 2024-06-04 11:34:01 UTC

Thanks to this case study we can understand that important is the Co-creation in companies and the various benefits and prestigious, which are presented, thanks to the interaction with consumers, and wanting to understand their behavior before the actions of the brand.

7. Search for other companies that have developed similar co-creation activities and write you conclusions.

yashminhola — 2024-06-06 09:22:11 UTC

- I have chosen the company Cuetara, is a food company, presenting biscuits Tosta Rica, capture the attention of their target market; children between 6 and 12 years of age, who are attracted by the dibudos that implement on such sweets.

They give the opportunity to their consumers in this case children, to be able to participate in their contests where they will have to make an imaginative drawing, thus developing their creative ability, and the winner will have the benefit that their draw is embodied in the product of the brand and put on sale, in turn they can get different gifts depending on the edition of the contest. Below you can see the advertisement, where in this case the benefit apart from the interaction between children and the company for the creation of the drawing, will give you the experience of visiting the tostarica factory for a day. With this the company is imparting its values and knowledge through an interactive activity.

This experience helps to encourage the development of their potential abilities of children so, marking in them an unforgettable experience that they will always remember.