The Brand Co-Creation among Bumi-SMEs in Mitigating with COVID-19
Charlie Albert Lasuin1*, Azizah Omar2
1 Faculty of Business, Economics and Accountancy, Universiti Malaysia Sabah, Kota Kinabalu, Malaysia
2 School of Management, Universiti Sains Malaysia, Penang, Malaysia
*Corresponding Author: [email protected]
Accepted: 15 December 2020 | Published: 28 December 2020
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Abstract: Undoubtedly, COVID-19 pandemic has changed the global micro and macro environment all around the world, causing misery and large-scale loss of human life, spreading fear of uncertainty as well as severe disruptions among smaller operating margins especially small and medium enterprises (SMEs). International and local lockdown including the effective suspension of social and commercial activity across the nations has enormously affects SMEs, particularly Bumiputera-owned SMEs in Malaysia. Therefore, they experience lost in revenues, profits and retrenchment as they need to curtailed or temporarily closed their businesses activity. While being immensely facing the great challenging time amidst the pandemic, the situation nurtures Bumiputera-owned SMEs the emergence of great creativity, innovation and improvisation through social commerce. Social media creates window of opportunity for promotional activity and selling their products to their customers using online method. Due to difficulties in getting out to the business premises or securing a delivery slot, social media is another way for Bumiputera-owned SMEs to promote their brands through co- creation with their loyal customers. This conceptual paper will highlight the importance of co- creation of brand between Bumiputera-owned SMEs and their customers through social media interaction as a platform of communication in mitigating with the pandemic in Sabah.
Keywords: Brand Co-creation, social media, Bumiputera-owned SMEs, COVID-19, Sabah ___________________________________________________________________________
Introduction
The deadly COVID-19 pandemic has shattered the world economy in more than 200 countries, areas or territories with tremendous agony and currently registered with more than one million in deaths. Indeed, the pandemic has changed human behaviour 360 degree from both micro and macroenvironment. The pandemic has negatively impacted businesses in every nation with unstoppable headlines dominating their daily news. Several countries in Asia mitigate the pandemic by executing stern international travel restrictions, physical and social distancing, contact-tracing efforts and quarantine programs (WSJ Noted, 2020). COVID-19 also shifting the lifestyle into more culturally hygienic Asians as majority of them wearing face masks in the public and use hand sanitiser as a protection against the deadly pandemic. In South East Asia (SEA) or ASEAN community, COVID-19 has brought massive disturbance to the economy, business operation and daily activities of their people. Certainly, the pandemic brought in the darkest nightmares not only in SEA but also in Malaysia.
The implemented lockdown measures imposed by several ASEAN members including Malaysia changed the business atmosphere as it become sluggish and struggling to sustain their
business livelihood (OECD, 2020). COVID-19 has dramatically changed the Malaysian’s status quo into new norms. Malaysia experienced the implementation the Movement Control Order (MCO) beginning 18 March 2020. The series of MCO in Malaysia then, followed by Enhanced Movement Control Order, Semi Enhanced Movement Control Order, Conditional Movement Control Order and Recovery Movement Control Order (RMCO). The implementation of these orders brought the significant unstable business climate towards local entrepreneurs especially to Bumiputera-owned SMEs or Bumi-SMEs as majority of them are categorised into micro and small industries. They faced difficulties in sustaining their business particularly in acquiring the raw materials, supply chains and distribution channels, financial capability and decrease in customers transaction. The hot button questions are, how does Bumi- SMEs can sustain their business during and after the pandemic? Does brand co-creation can help to revive Bumi-SMEs after the pandemic? This paper will comprehensively discuss the brand co-creation strategy as a centre stage of Bumi-SMEs mitigation towards the deadly pandemic.
Problem Statement
Bumi-SMEs faces various challenges in their business operations - internally and externally.
Their current position of equity ownership stands at only 16 percent, that is declining amount and described the percentage recorded as something worrying (Bernama, 2020; Mutalib, 2020).
Moreover, the unemployment rate among Bumiputera is 5.2 percent compared to the national average of 5.1 percent while the incidence of poverty among Bumiputera in 2019 is 7.2 percent compared to the Chinese 1.4 percent and Indians 4.8 percent (Bernama, 2020). Hence, the government reprised in their social policy that Bumiputera agenda is national agenda. The government is devoted to achieve the Bumiputera Agenda through Wawasan Kemakmuran Bersama 2030 or Vision of Common Prosperity 2030 and the 12th Malaysia Plan (Hasnan, 2020). In addition, the government also promoting an entrepreneurial culture among Bumiputera in an integrated manner through the role of various agencies namely Perbadanan Usahawan Nasional Berhad (PUNB), Majlis Amanah Rakyat (MARA) and TEKUN Nasional (TEKUN) (Hasnan, 2020). In a nutshell, Bumiputera community becomes more vulnerable to any unpredictable event in the environment, particularly the COVID-19 pandemic that affect their source of livelihood – employment and business activities especially in Sabah.
Undoubtedly, the COVID-19 has dramatically changed the global markets 360 degree with several unprecedented event that forever jeopardize many businesses activities to their closure (Said & Goh, 2020). The pandemic has affected most businesses livelihood particularly SMEs in Malaysia (Voon, 2020). Based from Special Survey Effects of COVID-19 on Economy and Companies/Business Firms (Round 1) by Department of Statistics Malaysia (2020), around 2,137 (52.2%) of Bumi-SMEs participated in the survey with majority of them were micro and small segment. As a result, 1,449 of Bumiputera-owned SMEs claimed that they lost their sales or revenues during COVID-19, particularly in time of Movement Control Order (MCO) or lockdown (Department of Statistics Malaysia, 2020). Moreover, these companies also faced the issues in terms of employees payout (they need to pay their employees including those who are working from home) and lack of customers during stated period (Department of Statistics Malaysia, 2020).
Specifically, Bumi-SMEs require more than 6 months for their companies to be fully recovered, otherwise they have to close down their businesses. Bumi-SMEs might face the unforeseen future about their business sustainability as the pandemic is still mingle within community in Malaysia. As an initiative, Malaysian Government released several economic stimulus
packages with the objectives to mitigate the effects of economic downturn as well as to stimulate the economic recovery. Therefore, the government allocated a sum of RM315 billion in four separate packages, as enumerated in the Table 1.
Table 1: The Economic Stimulus Packages The Stimulus Plan Date of
Announcement
Allocation (RM Billion) Government
Direct Injection Other Sources Total
Economic Stimulus
Package 27 February 2020 3.5 16.5 20
Prihatin Economic
Stimulus Package 27 March 2020 21.5 228.5 250
Prihatin Economic Stimulus Package for
SMEs
6 April 2020 10 - 10
Short-Term Economic Recovery Plan
(PENJANA)
5 June 2020 10 25 35
Total 45 270 315
Source: PNB Research Institute, 2020
The Economic Stimulus Packages will act as temporary financial aids for Bumi-SMEs. They need to enhance their brands as one of their intangible assets. Brands will further assist them in positioning products and services deeply inside of their customers’ mind. In order to remain sustainable and agile in unpredictable business environment, especially during COVID-19, businesses should put aside their insufficient margin offerings of products and services, but more on creating new as well as positive customer experiences that in accordance with their values and capabilities (Latif, 2020). Bumi-SMEs needs to discover the so-called customers’
pandora box or the black box through engagement and collaboration of co-creation process.
SMEs in Malaysia
Table 2: New Definition of Malaysian SMEs (Effective 1 January 2014)
Sector / Size
Micro Small Medium
Sales
Turnover Employees Sales
Turnover Employees Sales
Turnover Employees
Manufacturing
< RM300,000 < 5 Employees
RM300,000 to < RM15
million
5 to < 75 Employees
RM15 million to
≤ 50 million
75 to ≤ 200 Employees
Services &
Other Sectors
RM300,000 to < RM3
million
5 to < 30 Employees
RM3 million to
≤ 20 million
30 to ≤ 75 Employees Note: < is less than
≤ is not exceeding
Source: National SME Development Council (NSDC)
The SMEs sectors have been acknowledged as foundation of success of industrial development and economic growth around the world particularly in Malaysia. Table 2 shows the new definition of SMEs in Malaysia which was based sales turnover and number of full-time employees. SMEs in manufacturing sector are defined as firms with sales turnover not exceeding RM50 million OR number of full-time employees not exceeding 200. While services and other sectors in SMEs are defined as firms with sales turnover not exceeding
RM20 million OR number of full-time employees not exceeding 75. SMEs in Malaysia
“produce economic output, provide employment opportunities, generate regional income, provide savings, be involved in training development, stimulate competition, provide aid to large firms, encourage innovation and flexibility, and become breeding grounds for new entrepreneurships ventures and entrepreneurships” (Chelliah, 2014, p. 14). In terms of sectoral contribution, the two main contributors to the SME GDP in 2018 were the services sector (62.4%) and manufacturing sector (20.1%) (SME Corp Malaysia, 2019).
Bumi-SMEs and Online/Digital Business, E-Commerce
Source: Statista Research Department (2020)
Figure 1: Main products frequently purchased online among consumers during COVID-19 pandemic in Malaysia as of May 2020, by gender
No doubt that COVID-19 pandemic drastically coloured the business environment and change consumers behaviour in Malaysia. Therefore, SMEs particularly Bumi-SMEs need to migrate from brick-and-mortar into click-and-mortar or online business. As consumer changing their preferences into e-commerce and shopping online, it is imperative for SMEs to regain back their revenues and profits by ventures themselves into online or digital business. Furthermore, Malaysian Government gave their fully supports in encouraging local SMEs to ventures into
online and digitalisation of their business (Bernama, 2020). Based from a survey conducted by Standard Chartered (StanChart), more than two-thirds or 73 percent of Malaysians stated that the pandemic gave them the positive vibe and new norms about online shopping (Boey, 2020;
Jaafar, 2020). Indeed, the pandemic become the stimuli towards Malaysian consumers in adopting e-commerce and digital business as both has emerged as one of the major beneficiaries of local MCO as well as the global lockdowns that have been imposed since beginning of this year (Mohammed, 2020; Poovenraj, 2020). Illustration 1 shows the main products frequently purchased online among consumers in Malaysia during the pandemic. The illustration also depicts the future transition on consumer buying behaviour from the previous brick-and-mortar into new norms.
Bumi-SMEs should act proactively by comprehensively recognise how Malaysia Digital Economy Corporation work in realising their dreams on digital technology. Malaysia Digital Economy Corporation introduced 100 Go Digital programme as a stepstone to promote further implementation of digital technology among SME (Bernama, 2020). The programme aimed at providing the digitalisation guidelines for local business in key sectors, particularly to improve business management as well as customer experience (Bernama, 2020). Terragrill Satay is an example of Bumi-SMEs has implemented such idea and managed to curb their business risks during the movement control order (MCO) (Bernama, 2020). In addition, the programme also assists Terragrill to look into business opportunity to market their products and brand locally and internationally (Bernama, 2020).
The largest e-commerce player in Malaysia, Shopee, assists local micro, small and medium enterprises (MSMEs) on Shopee by delivering them the RM1,500 incentive of seller benefits in conjunction with e-commerce campaign launched by Malaysia Digital Economy Corporation (MDEC) (Bernama, 2020). The incentives as part of Shopee’s commitment in response to the recent Pelan Jana Semula Ekonomi Negara (PENJANA) announced by Malaysian Government to rebuild local economy particularly MSMEs. New MSMEs on Shopee are entitled RM1,000 in vouchers for their Shopee stores to refresh and generate sales and RM500 for promotional incentives in order to increase their store visibility as well as products on Shopee (Bernama, 2020). This will revitalise the disruptive economy which was affected during COVID-19 by accelerating digitalisation of local businesses and increase their profit margin, particularly new to e-commerce sellers (Bernama, 2020). Bumi-SMEs should take this opportunity during and post-COVID-19 to venture themselves into e-commerce platform in catering the netizen market.
Bumi-SMEs and Social Media
Now, in the new era of we-economy, people are more focused into shared experiences collectively and collaboration between human beings (Howard, 2015). Their communication and collaboration portray in social media that become the medium of interaction between them.
The development of Internet sparks the emerging of social media that endlessly changed the boundary of business landscapes around the world (Martin, 2018). Moreover, social media creates virtual communication, setting the global village that no longer constrained by proximity or conventional long-distance communication activity (Martin, 2018). In order to design such non-imperative social media communication, the company should be respectful to netizens, filtering crucial and confidential information before disclose it to everyone, communicate in a professional tone, prevent any negative sentiments that lead to any fights, promote good courtesy and fair to everyone (Gilmore, 2015). Social media is essential to businesses as it provides platform of communication, networking, prospecting, access to
information and building a brand (Boyes, 2020). Indeed, social media comprises of Facebook, Twitter, LinkedIn, YouTube, Instagram, Pinterest, Tumblr, Snapchat and Vine that creates connection between the customers and company (Boyes, 2020). Therefore, it is imperatives for Bumiputera-owned SMEs to implement social media as part of their strategy to win their customers. Bumiputera-owned SMEs needs to view social media as platform for building networking with others rather than a selling zone! Social media represents delicious apple pie that we offer to our new neighbour as a mark of building relationship (Martin, 2018).
Social Media and Brands
SMEs with limited in resources can implement their strategy on building strong brands because branding contribute to SMEs’ business performance particularly on sales (Agostini et al., 2015). According to Lee (2020), branding is vital in actively communicating the company’s policies and corporate image that strengthen investor as well as consumer confidence towards new products, product line extensions and services of the company. According to Rand (2014), the Internet has not only influence human communication but also influenced brands that become part of human life. Nowadays, brands can integrate by the usage of the tools and insight from new wave technology such as social media in order to become more discoverable, approachable and recommendable (Rand, 2014). Social media is an excellent way to build a brand (Zimmerman & Ng, 2017). In addition, brands can also become more visible through shared media, that is co-creation of content and media between active participation of brands and community particularly consumers by using sites like Facebook, Twitter and YouTube (Rand, 2014). There are many social media sites exist, however it only comes down to three main sites: Facebook, Twitter and LinkedIn (Martin, 2018). Facebook and Twitter are considered as a main platform for social media in terms of content curation space (Rosenbaum, 2011). Facebook for example, is beginning to make decision for consumers by observing their interaction with brands through number of exposures to those brands using Facebook platform (Greenleigh, 2014). Rosenbaum (2011) stated that the content curator creates connection with consumers especially when it comes into brands. Firms or marketers are no longer fully control over their brands because they are facing with the rising collective power of consumers (Kotler et al., 2010).
Engagement with their Customers
According to Mah (2020), the audience or customers want to see the brand anticipation in dealing with the crisis and providing valuable impact in their lives. Therefore, the brands should proactively deliver and disseminate messages that close to their consumers with genuine, mindful and helpful by channelling it via social media platforms (Mah, 2020). Bumi- SMEs needs to make sure that their brands are visible to customers. They need to understand the real customers pain during the pandemic and creatively surface with an idea that cherish and acknowledge them by listening to their insights, point of views, and complaints, thus winning their endless loyalty. Social media platforms are powerful tools during this pandemic time. Customers are now shifting their buying behaviour into online shopping due to unprecedented situation because brands also boost its efforts to engage with customers via social media (Jaafar, 2020).
This special high-level brand relationship between an organisation, company or a firm with their customers were beautifully illustrated through brand engagement that evokes a form of emotional and moral commitment that deliver promises made by them to their customers (Buckingham, 2008). Bumi-SMEs needs to highlight their understanding in branding through
brand engagement in order to sustain their long-term visibility and competitiveness in the marketplace. According to Buckingham (2008), brand engagement primarily termed the business owner to understand the core values of their organisation; understand the needs of their customers, employees and stakeholders on these value fulfill, and communicating the effective, appropriate and explicitly promises to their both internal and external stakeholders as well as involving them in the process of realising the promises. In fact, Bumi-SMEs should rigorously look into this matter in comprehensively understand their customers and invite them to be part in products and brands’ creation for their feedback prior delivering the promises.
Surely, this will strengthen the relationships and engagements between the two parties that become one of the sources of competitiveness against their rivals especially during unforeseen situation such as COVID-19 pandemic.
Brand Co-Creation and Bumi-SMEs
Within this paradigm, the customer is considered to always be a co-creator of value (Vargo and Lusch, 2008), regardless of the nature of the business – either goods or services. As a matter of fact, a foundational premise of the service-dominant logic is that service is not only present in services businesses, but also in the exchange of goods (Vargo and Lusch, 2004, 2008). Bumi- SMEs can take this opportunity by inviting their customers together in interaction towards discussing the relevant issues relating to their products. Actually, value co-creation is the result of the interactions between firms and active customers, during which they combine and integrate each other’s resources in order to find win win situation between both of them (Vargo et al., 2008). Indeed, this will lead to interaction of dialogue among the company and their customers in finding solutions, idea, innovation and problem solving towards better brand and products management.
Therefore, this will lead favourable acceptance towards the products and at the same time the brands will surfaced and become well known to consumers. The product itself match with customers’ needs, wants and desire. This will prevent waste on raw materials and resources of Bumi-SMEs. Similarly, Kotler et al. (2010), suggested that there are three key processes of co- creation beginning with the creation of a platform, a generic product that can be customised further. This involves deep engagement between Bumi-SMEs with customers and propensity to act-on both sides. This followed by the product customisation from consumers’ own individual perspective within a network platform or via social media to match with their unique identity (Kotler et al., 2010). Here, customers entail their empathic understanding built around experiencing their experience and recognising the emotional, social as well as cultural context of experiences. Finally, Bumi-SMEs can acquire consumers’ feedback and improve further the platform by incorporating all the customisation made by consumers. This will further improve the development of the products and services particularly revitalising brands that communicate benefits that answers consumers’ pain.
Source: Modified from Prahalad and Ramaswamy (2004) Figure 2: The DART Model
According to Nour (2017), the successful of co-creation lies on reducing of self-interest among both parties involved in relationships. Nour (2017) also added that co-creation is a transformational journey, creating a mutual benefit for both parties to develop, evolve, grow and improve the current situation of pertaining issue, products or services and brands, especially in organisation. Therefore, in co-creation it is about less ‘you’ but more about them in relation to understand the real meaning of strategic relationships between the organisation and consumers (Nour, 2017). These consumers decided to engage with the organisation because of the more compelling proposition in their offering of products and services (Nour, 2017). No doubt that brands no longer control its own story, a single unhappy customer can create negative connotation and wave that jeopardize a good reputation of brands among consumers (Rosenbaum, 2011).
Previous study by Prahalad and Ramaswamy (2004), suggested the Dialogue, Access, Risk Assessment and Transparency (DART) Model in order to acquire better illustration between the relationship of the firm and their consumers. The interconnecting of DART Model with social media will become the platform of voices and action for loyal consumers to engage and
collaborate with firm. This model should be implemented by Bumi-SMEs in order to listen and taking into considerations of their customers’ thoughts and point of view based from their active interaction and collaboration. This will surely compliment the organisation strategy into building great relationships with their customers and at the same time help refresh their brands even during the time of pandemic. There is no single short-way for Bumi-SMEs to restructure and mitigate their products and brands. Customers are indeed valuable sources for Bumi-SMEs in delivering their secret black box of actual needs, wants and desires.
Conclusion
Although this might not be the best year of 2020 that graciously auspicious to business activities in Sabah and Malaysia, Bumi-SMEs needs to take the situation as a learning experience in order to become better in the future. Bumi-SMEs particularly in Sabah needs incorporate the usage of social media in their daily business activities. Social media have continuously evolved to become one of the most powerful tools for businesses. Social media enable Bumi-SMEs to attract more new users and servicing their existing loyal customers. In addition, social media give Bumi-SMEs the opportunity to communicate their brands (as the important tool and asset for organisation) with a loud and clear message to their audience.
Through social media, Bumi-SMEs be able to conduct the co-creation process of their brands with collaboration and engagement from their loyal customers. In return, customers contribute their ideas and insights for continuously improvement towards products as well as services.
This special engagement will allow each brand to improve progressively as well as getting more up close and personal to its customers by positioning the brand into their minds. This will mitigate the overall strategies of Bumi-SMEs into sustaining their business during the pandemic as well as revitalise their brands against all the clutter in the red ocean marketplace.
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