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Question: Within the context of value co-creation who has more power consumers or producers? Answer: Value co creation refers to the organizational strategy under which the customers or visitors of the company participate in helping the company in achieving organizational objective. Likewise, they help the organization by giving unique ideas which are implemented by the organization with an aim to fulfill the customers desire and to achieve organizational objective. But the ideas given shall be unique then only they will come into existence (Darmody 2009). The two steps to perform co creation in an organization are as follows: Contribution: the process of giving innovative ideas by the general public to the company. Selection: the process of selecting the most appropriate idea to initiate in the organizations performance management. An organization manly follow on of the four types of co creation formats listed below: Tinkering: under this method doing the contribution is the right of the customers whereas selection of adequate notion is the right of the company. Submitting: the company holds the power on both the processes that is contribution and selection. Co-designing: under this method contribution of idea is made through company whereas the customers decide which idea to choose. Collaboration: under this method majority of work is done by public that is both selection and contributions are made through public only (GARCA HARO, MARTNEZ RUIZ, MARTNEZ CAAS 2014). It is illogical to say that the value of creation helps only customers or producers to achieve benefit instead it gives power to both customers and producers to gain benefits from the services provided to them. As it is seen that the media is the fastest growing industry which is nowadays used by all people, the services provided the media industry are, providing news information and current affairs, upcoming trends and fashion, tool for entertainment etc. so it can be clearly seen that this industry is widely used by al for one or other purpose. To increase the profit under any sector they key is to make innovation in its process to gain competitive advantage. This industry works with innovation and also is a cost efficient industry (Grnroos 2011). The following are the benefits through which the power of a producer in co-creation of the company can be easily seen: The use of customer co creation can be easily understood with ample examples such as Facebook, WhatsApp, Instagram etc. for instance if Facebook launches any kind of change on its application then the people using Facebook gets the opportunity to rate the change also provide their comments on the innovation made by the company. Also if the customers do not like the change or kind it inappropriate for then they can easily complaint or report the problem. This gives the customer an ease to use the services provided to them due to which they focus on using it more due to which the share of Facebook increases in the market (Karlseng, Ingholm 2016). As it is known that value co creation helps the company in achieving the goals and objectives defined for them. Also the major work in a media industry is done through technology and innovation, and the needs and wants of customers can be explained by no person better the customers themselves. Therefore there shall always be a way through which customer can customize the services received to them (Martnez-Caas, Ruiz-Palomino, Linuesa-Langreo, Blzquez-Resino 2016). This will retain the customers and create a competitive advantage to the company as well. Therefore, it can be said value co creation gives a power to the producers as it helps the producers in achieving the objective (Kaur Sahi, Sehgal, Sharma 2017). When it comes about power, the producer gets the power with the aid of creation in such a way, that with the guidance of its customers, the company gets to know about the trend prevailing in the market and the type of services which they expect from the company. And if such service are customized and provided to the customers they feel happy due to which the company gains the competitive edge. Thus it reduces competition, like earlier WhatsApp was a simple application for messaging but the emergence of new competitors in the market like Snapchat and Instagram, the companys share started getting decreases due to which they applied co-creation within the organization (KL Communications 2017). after this the company got to know the changes which a customer seek in their services, after implementing those change the company WhatsApp again started ruling the market. Thus it builds loyalty and trust of the customer on the product. Also co creating process makes the customer feel that they are also part of the organization due to which they insist the company to lead toward achievement of their goals through innovating ideas. Some off the benefits which media industry receives through application of value co creation are as follow: It helps the company in gaining the competitive edge by creating the product as per the choice of the customer. Due to which the company is able to create a brand loyalty and leave a long lasting effect on the mind of the customer (Labrec et.al 2013). The media industry will only work if the customer will trust on the news displayed on them and the best advertising tool in the media industry personal selling under a customer of the company advertises the services to another informal through informal ways. Thus this value co-creation helps the industry in getting diversified and flourish. If the obstacles of customers are being explained by themselves, then it becomes easy for the company to understand them redress them. The major activities of the social media industry in done online through internet therefore some people find it difficult to use them. Thus if their problems are directly received by the company addressed and contribution of idea is also made by the customer hence, the company can aim towards growth (Schau, Muiz, Arnould 2009). If the social media industry is aiming for expansion, then if they are using the tinkering tool for co-creating services in their organization then it will include the interest of the customers to contribute innovative ideas to the company and this will also provide power to the company in selection of the ideas provided to them. Thus will make the customers feel a bond towards the company which will make them loyal for their product and services. One of the methods of co-creation in sharing the experience of customers received by the use of their services through this method the industry can easily advertise their products by sharing the experiences on social media. Also this gives a benefit to the customers as it gives them a platform to share their views on the changes done by the company (Piller, Vossen, Ihl 2011). Apart from the powers received to company through co creation, the customers of the social media industry also enjoys certain benefits through. Thus the powers received to a company through customer co creation are as follows: As it was known that the customers are the kings of the market Also earlier the main purpose of any industry is to serve the customer through its products and services. But now with the change in time, both the customer and producer believe in sharing the idea and implementing them for the betterment of both. Thus the value co creation gives power to both customer and producer of the company to take decisions related to the company (The CoCreator 2017). In a social media industry the major benefit of co creation is that people get to see and know about things which they want to know, all the other irrelevant information are discarded. the way through which the social media industry is flourish is through technology and innovation and co creation is a way, an initiative to lead co creation, thus by the advice to customers of the company, the process of co creation is done in media industry. Another power which a customer receives through co creation is that they get to access all kinds of information and reach to satisfaction level through the services of the media industry (Zwass 2010). Thus, the case under which a customer usually enjoys he power in a media industry is as follows: While choosing a brand name of the new product, sharing experiences received t them, redressing the problems, creation of type of product or services, contribution in innovative ideas, advertisement functions etc. Thus, it can be clearly seen that there are many activities in an organization due to which the power of customer is also increased (Zwick, Bonsu, Darmody 2008). Co creation is a tool through which a person gets enough rights to enter in the working of an organization and share their experiences on the website. Also the media industry is a total experimental industry under which a company has to constantly update changes within organization. Therefore, they seek risk at an optimum level. Thus the company shall take a calculative risk, like if the innovation in done for the customer then shall only provide their idea for innovation and of innovation so that they can easily use them. The customer centric approach focuses on the value creation of the company under which the customer plays the key role in deciding the changes which shall be led by the company. thus under this approach the customer contributes the idea to the producer like when where and how the services shall be provided and how it will benefit the whole society on a whole (Rayna, Striukova, Darlington 2015). After analyzing to which the producer shall apply changes in the organ ization process. Thus it can be said that high quality if interaction can lead to great experiences and can help the company in achieving the organizational objective. Also it shall be noted that the power of customers become less in the process of customization, if compared to co creation. As under the method customization it is the will of the company to customize the services according to them or not, also this process is difficult to hold as different customers demand different kinds of customized services which the company can no provide (Prahalad, Ramaswamy 2004). But co-creation refers to the process of participation of consumers in creation of value in the marketplace which means the customers and the producer come together and works for the betterment and share equal powers. Also the process of co-creation brings freshness in the market as it motivates the whole industry to come together and work for the purpose of innovation and achievement of goals and objective. This can also help the organization in understanding the behavior of the consumers where to the consumers this process will help in connecting more with the company and becoming a part of it. Thus it can be said that the customers and producers both enjoy a great degree of power in their hands due t o the activity of co-creation held in their organization (Piller, Vossen, Ihl 2011). Thus along with the monetary benefits they enjoy intrinsic and extrinsic motivation to perform the value co creation activity in the organization and it make the environment more diversified. Apart from there are various risk relation to value co creation which are; risk to decay the brand image maintain- it might be possible for a company to lose the goodwill of the company by implementing one wrong idea provided by the customer, whereas another drawback is that it is not always necessary that the company receive good ideas sometimes they do not receive any qualitative or quantitative benefit from the value co creation (OHern, Rindfleisch 2010). Concluding to the above findings, it is known that there are various factors that drive a producer and a consumer to follow the method of co-creation. In a media industry there are various sectors under which implementation of creation can lead to major changes in the organization leading to performance management. Some of the example of co creation in media industry are, online voting, use of user generated content, like and comments on status, recommendation on updates etc. therefore it can said the company and customer both shares the power of value co creation in a company equally. References Darmody, A. 2009, Value Co-Creation and New Marketing viewed on July 20, 2017 from https://timreview.ca/article/302 GARCA HARO, M.., MARTNEZ RUIZ, M.P. MARTNEZ CAAS, R., 2014. The Effects of the Value Co-Creation Process on the Consumer and the Company.Expert Journal of Marketing,2(2), pp.68-81. Grnroos, C. 2011, 'Value co-creation in service logic: A critical analysis', Marketing Theory, vol. 11, no. 3, pp. 279-301. Karlseng, E. Ingholm, H.O., 2016.Co-creation in the media industry(Master's thesis). Kaur Sahi, G., Sehgal, S. 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