Co-creation and Consumerism Innovative
The conditions for innovation are not only the final result, but also on experience. This trend is what is known as the co-creation, a term coined by professors at the University of Michigan, CK Prahalad and Venkat Ramaswamy, to describe the collaborative relationships between consumers and businesses. Co-creation has been the trend since the mid-1990 in Pine and Gillmore dubbed the “experience economy”. The co-creation is the practice of allowing customers to “build your own” products, a practice that is gaining traction among U.S. retailers on-line. Co-creation is defined by consumerism at its best innovation that allows consumers to be part of a company’s growth. An essential part of business success is the ability of a company to quickly identify the creations of consumers and consumer learning the type of product or service they want.
The ingredients of the consumerization are because, first, an ability to tell your customers how they can be better served. Second, the co-creation is all about customer engagement and experience in the relevant market segment, a good general intelligence and the ability to communicate and receive ideas.
Co-creation in practice
The rickshaw bagmakers Bagworks personalized messenger allows customers to design their own bags. Shortomatic Spotswear provider offers custom swimsuits. Many leaders in electronic commerce – NikeiD, Dell, Blue Nile, for example – have begun to combine the customer co-creation with social networking tools where customers can share what they have created through social networks. Basically, the co-creation is an innovative practice of customer needs satisfied, “while engaging in an interactive experience through the social construction of consumerization of technology.
NikeiD is the first to offer a highly visual “build-your-own-shoe” of the application on your website, seeing an increase in Internet sales by 25% to about $ 260 million from about $ 208 million in fiscal 2009. NikeiD custom design application has exceeded 100 million dollars in sales. It is not the co-creation in markets such as Zazzle, CafePress and Spreadshirt allows consumers to design and sell their own creations. These sites have been integrated design tools and e-commerce functionality. Zazzle 1.600% was increased in 900% in traffic and sales reports at least 20 million unique monthly visitors and 31 million unique products available.
CafePress (the popular T-shirts and Gifts site) claims 1.1 million unique visitors per month, about 2,000 independent stores added each day and more than 250 million unique products available on the site. Blue Nile, the leader of the popular “build self-ring” app revenues increased 18.7% to $ 74.1 million, the highest first quarter sales in the history of the firm. “Other popular sites include custom ring Brilliant Earth and Gemvara. Papa John Page Facebook has over 1.1 million” love “and Facebook users are able to choose pizza toppings to design a personalized pizza. A Another example is the Lego Factory, where kids design new Lego models using a Digital Designer application, and can also submnit creations in the competition.