Value Co-Creation: The New Approach to Successful Product Introductions
Innovation exists at the intersection of invention and value and the best approach to create value is a new technique called value Co-creation. Co-creation not only describes a trend of jointly creating products. It also describes a movement away from customers buying products and services as transactions, to those purchases being made as part of an experience. Value is co-created with customers when a customer is able to personalize his/her experience using a firm’s product-service proposition to a level that is best suited to get his/her job(s) or tasks done. In this chapter of the Beyond Stage Gate series we describe to how use Co-creation to increase the probability of successful new product and service introductions and how it fits in the entire innovation management ecosystem.
Dr. Jose A. Briones is the Director of Operations of Spyrotek Performance Solutions, a supplier of specialty materials and software. Dr. Briones has 20 years of experience in roles from research, manufacturing, business development, marketing and innovation management Dr. Briones has been the leader in the commercialization of 35 new products and is named as inventor in 5 patents.