Value Co-creation - Internet for Development and Telecommunications
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Expectations from customers regarding products and services have grown tremendously. Customers are increasingly expressing their needs in social networks for customization of products or services. The interpretation of value and the process of value creation are rapidly shifting towards personalized customer experiences (Prahalad and Ramaswamy, 2004). Customers have become co-creators of innovation. Value co-creation may be described as the extent of participation between customers and businesses into activities of innovation requiring interaction that is creative, inclusive and engaging (Rama...
Expectations from customers regarding products and services have grown tremendously. Customers are increasingly expressing their needs in social networks for customization of products or services. The interpretation of value and the process of value creation are rapidly shifting towards personalized customer experiences (Prahalad and Ramaswamy, 2004). Customers have become co-creators of innovation. Value co-creation may be described as the extent of participation between customers and businesses into activities of innovation requiring interaction that is creative, inclusive and engaging (Ramaswamy 2011). This book analyzes relevant studies on literature both qualitative and quantitative across the disciplines of Information Systems, Information Management, Strategic Management and Marketing. The existing theory on co-creation is evolving. Further, using the results of the review of literature, a time series study extends onto the development factors and use of telecommunicationsacross India. This work identifies the motivations of the co-creators of value and it discusses strategy and planning for India to invest in innovation of products and services.
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