Interactive Value Creation - Mass Customization

About 'Testing the Value of Customization: When Do Customers Really Prefer Products Tailored to Their Preferences?'

Business & Finance, Marketing & Sales
Cover of the book Interactive Value Creation - Mass Customization by Yasemin Sari, GRIN Publishing
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Yasemin Sari ISBN: 9783640900763
Publisher: GRIN Publishing Publication: April 27, 2011
Imprint: GRIN Publishing Language: English
Author: Yasemin Sari
ISBN: 9783640900763
Publisher: GRIN Publishing
Publication: April 27, 2011
Imprint: GRIN Publishing
Language: English

Essay from the year 2011 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 2,0, RWTH Aachen University, language: English, abstract: Due to the shift from seller to buyer markets in recent times, where instead of productivity and cost efficiency now other goals like quality, time and flexibility become more important, firms have to react. Furthermore, availability of modern information and communication technologies, notably the internet and the resulting market transparency enhances the bargaining power of customers. Along with globalization, shorter product life cycles, a wide variety of variants and increasing market saturation firms are confronted with highly competitive global markets. Therefore, it is all the more crucial that companies distinguish themselves in the market to succeed. An extremely important point in this context is the ability of firms to innovate. Only with innovative and marketable products a company can survive in a market in the long-term. To ensure innovativeness that is strongly linked with competitive advantage, sustainability and long term profitability firms are increasingly in search of new sources. Customer co-creation, customer integration, user innovation, open innovation and mass customization are just some terms behind which a new paradigm in technology and innovation management is hidden. The accurate umbrella-term for all these concepts is 'interactive value creation'. Firms, most notably in the last four decades , recognized that external actors, especially customers and users, are a crucial source for innovative knowledge. Accordingly interactive value creation means the active integration of customers and users in the value creation process within a firm, so far mainly performed internally. In this regard, interactive value creation is primarily divided in two basic types: open innovation and mass customization (product individualization). Whereas, put simply, open innovation targets the innovation of new products by opening the innovation process to external actors, mass customization implies the development of individualized products. Within this thesis the focus lies particularly on mass customization.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Essay from the year 2011 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 2,0, RWTH Aachen University, language: English, abstract: Due to the shift from seller to buyer markets in recent times, where instead of productivity and cost efficiency now other goals like quality, time and flexibility become more important, firms have to react. Furthermore, availability of modern information and communication technologies, notably the internet and the resulting market transparency enhances the bargaining power of customers. Along with globalization, shorter product life cycles, a wide variety of variants and increasing market saturation firms are confronted with highly competitive global markets. Therefore, it is all the more crucial that companies distinguish themselves in the market to succeed. An extremely important point in this context is the ability of firms to innovate. Only with innovative and marketable products a company can survive in a market in the long-term. To ensure innovativeness that is strongly linked with competitive advantage, sustainability and long term profitability firms are increasingly in search of new sources. Customer co-creation, customer integration, user innovation, open innovation and mass customization are just some terms behind which a new paradigm in technology and innovation management is hidden. The accurate umbrella-term for all these concepts is 'interactive value creation'. Firms, most notably in the last four decades , recognized that external actors, especially customers and users, are a crucial source for innovative knowledge. Accordingly interactive value creation means the active integration of customers and users in the value creation process within a firm, so far mainly performed internally. In this regard, interactive value creation is primarily divided in two basic types: open innovation and mass customization (product individualization). Whereas, put simply, open innovation targets the innovation of new products by opening the innovation process to external actors, mass customization implies the development of individualized products. Within this thesis the focus lies particularly on mass customization.

More books from GRIN Publishing

Cover of the book Clausewitz on COUNTERINSURGENCY by Yasemin Sari
Cover of the book Consumer preferences in a comparative European market research study by Yasemin Sari
Cover of the book 'Circle of Friends' as novel and film version by Yasemin Sari
Cover of the book The European Union and the World Trade Organisation - Two governance systems in trade policy: A selection of their differences, similarities and mutual influences by Yasemin Sari
Cover of the book Trade, aid and economic development - A comparative analysis between Georgia & Latvia by Yasemin Sari
Cover of the book Thomas Jefferson and Slavery by Yasemin Sari
Cover of the book Chaucer 'Miller's Tale' by Yasemin Sari
Cover of the book The impact of cohabitation on women and children by Yasemin Sari
Cover of the book How India Attracts Foreign Investors by Yasemin Sari
Cover of the book Das Drei-Säulen-Modell der EU - Säule 2: Gemeinsame Außen- und Sicherheitspolitik by Yasemin Sari
Cover of the book Der 13. August 1932 by Yasemin Sari
Cover of the book From 'counterrevolution' to 'revolution' to collapse by Yasemin Sari
Cover of the book Religion and mythology in Oscar Wilde's poem 'The Sphinx' by Yasemin Sari
Cover of the book Tricky Intuitions by Yasemin Sari
Cover of the book The Correspondence of Adams and Jefferson. Citizens, Politicians, Friends by Yasemin Sari
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy