cocreation

Shelly Tsui. Credit: Vincent van den Hoogen Ever heard the tales of companies convinced they had a groundbreaking product, only to "forget" to check with the end user if there's even a demand for it? Many businesses get stuck in a linear thought process, thinking they are the experts and missing out on the potential of engaging end users and other stakeholders. …

Crowdfunding, crowdsourcing and small-batch production for the win If you are running R&D at a large appliance manufacturer, you have a challenge. You typically make products in enormous quantities at pretty slim margins. In order to recoup your development, tooling and launch marketing costs, you need to create and sell a huge number of products. To ensure that that’s possible, you’d probably end up doing a bunch of user and market research to ascertain that you have the…

Credit: Unsplash/CC0 Public Domain Researchers from Lehigh University, University of Hong Kong, and Shanghai Jiao Tong University published a new paper in the Journal of Marketing that proposes experience cocreation as a novel strategy to transform shared coupons into a tool to advance relationship building. …