Chris Lawer writes:
Building on Prahalad and Ramaswamy's view of co-creation, here are some academically oriented dimensions and definitions I have been working on.
What is interesting about this post, is the way Chris goes about explaining a method to tangibilize the dimensions of co-creation for companies wanting to walk this path. For example, he mentions that firms have to become either "facilitators" or "providers" of experience gateways for customers. One company that has been able to do this well is Amazon. They have not looked at themselves as just being an online bookstore. But, they have enabled customers' feedback and ratings, so that they can help others take decisions, instantly, on a specific book that they are looking for. Also, the customer plays an active role rather than a passive role in the co-creation process. Sometimes, she is giving and sometimes she is taking. The above example exemplifes this point well, too. e-bay again is a clear example of a "give" and "take" model. He talks of firms setting-up "knowledge environments". Banking & financial services companies have to go this route. It is no more about selling a mortgage or a credit card but it is about customizing a financial product according to my risks and returns philosophy. Increasingly, I believe one firm will not be able to create personalized co-creation experiences. A group of firms will have to come together, to create a "network", to deliver value to these customers. Experienced based value will be a key differentiator for customers to remain loyal to firms. Co-creation is not about selling products but wrapping services and this will become the order of the day. 'Licencing' will gave way to 'experiencing' which will eventually evolve to become a pay-per- engagement model.