The global network now provides a virtually unlimited access to information, as well as direct contact between companies and consumers. Active users and openness on the part of the companies were prerequisites for the development of such a concept of market relations as the co-creation or co-creation marketing (co-creation marketing). This concept is broader in relation to crowdsourcing (crowdsourcing).
The essence of the concept lies in the fact that when there are no borders between a company and the external environment it becomes possible to use not only internal but also external resources for research and development. Consumers can easily go into the role of participants in the creation of products from designing ideas to its ultimate realization.
Initially, the co-creation concept was described in the article "The combination of consumer abilities" Prahalad and Ramaswamy (2000). The authors argued that consumers are able to directly influence the product development, not only to consume or abandon it. It was also stated that the customer has special knowledge and experience and because of this, it is advisable for companies to establish and maintain an open platform for communication with the client so that the latter had the opportunity to share their ideas and knowledge.One such platform that currently exists is www.crowdholding.com
A certain advantage of the concept of co-creation is a reduction of the risk of errors during product development, expansion of the company's understanding of the real needs and desires of end users, as well as the involvement of employees at different levels in the generation of ideas.
The concept of co-creation is being actively used by global brands like Nike, P & G, Starbucks, Dell, Pepsi and many others.
For example listening, Nike in 2009 launched a project to create a user's own footwear design. On completion of the project, the main financial indicators showed an increase in revenue from online sales by 25% and net profit growth - 52.9%.
Another a shining example of co-creation is the creation of Mozilla Firefox web browser. Surprisingly, normal users took part in the development. It should be noted that Firefox is the second most popular, behind only the aggregate market share of all versions of Internet Explorer, and its popularity continues to grow among all types of users.
However, at this moment the concept of co-creation is not popular within startups. One reason for the low activity among users is the absence of an engaging C2B platform where companies establish communication with the client. Another reason may be the lack of awareness of users about the very concept of co-creation, as well as a skeptical attitude towards it. Most consumers want to improve the product, and now they can do it on www.crowdholding.com.
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