Co-creation experiences: The next practice in value creation
dc.contributor.author | Prahalad, C. K. | en_US |
dc.contributor.author | Ramaswamy, Venkatram | en_US |
dc.date.accessioned | 2006-04-19T14:17:39Z | |
dc.date.available | 2006-04-19T14:17:39Z | |
dc.date.issued | 2004 | en_US |
dc.identifier.citation | Prahalad, C. K.; Ramaswamy, Venkat (2004)."Co-creation experiences: The next practice in value creation." Journal of Interactive Marketing 18(3): 5-14. <http://hdl.handle.net/2027.42/35225> | en_US |
dc.identifier.issn | 1094-9968 | en_US |
dc.identifier.issn | 1520-6653 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/35225 | |
dc.description.abstract | Consumers today have more choices of products and services than ever before, but they seem dissatisfied. Firms invest in greater product variety but are less able to differentiate themselves. Growth and value creation have become the dominant themes for managers. In this paper, we explain this paradox. The meaning of value and the process of value creation are rapidly shifting from a product- and firm-centric view to personalized consumer experiences. Informed, networked, empowered, and active consumers are increasingly co-creating value with the firm. The interaction between the firm and the consumer is becoming the locus of value creation and value extraction. As value shifts to experiences, the market is becoming a forum for conversation and interactions between consumers, consumer communities, and firms. It is this dialogue, access, transparency, and understanding of risk-benefits that is central to the next practice in value creation. | en_US |
dc.format.extent | 181570 bytes | |
dc.format.extent | 3118 bytes | |
dc.format.mimetype | application/pdf | |
dc.format.mimetype | text/plain | |
dc.language.iso | en_US | |
dc.publisher | Wiley Subscription Services, Inc., A Wiley Company | en_US |
dc.subject.other | Business, Finance & Management | en_US |
dc.title | Co-creation experiences: The next practice in value creation | en_US |
dc.type | Article | en_US |
dc.rights.robots | IndexNoFollow | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Business | en_US |
dc.description.peerreviewed | Peer Reviewed | en_US |
dc.contributor.affiliationum | University of Michigan Business School, Ann Arbor | en_US |
dc.contributor.affiliationum | University of Michigan Business School, Ann Arbor | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/35225/1/20015_ftp.pdf | en_US |
dc.identifier.doi | http://dx.doi.org/10.1002/dir.20015 | en_US |
dc.identifier.source | Journal of Interactive Marketing | en_US |
dc.owningcollname | Interdisciplinary and Peer-Reviewed |
Files in this item
Remediation of Harmful Language
The University of Michigan Library aims to describe library materials in a way that respects the people and communities who create, use, and are represented in our collections. Report harmful or offensive language in catalog records, finding aids, or elsewhere in our collections anonymously through our metadata feedback form. More information at Remediation of Harmful Language.
Accessibility
If you are unable to use this file in its current format, please select the Contact Us link and we can modify it to make it more accessible to you.