They have been at the forefront in customer experience innovation for years, I’m looking forward to hearing their approach co-creation – Matthew Guiste from Starbucks to share their initiatives in co-creation Sept. 21 in Copenhagen.
Archive for August, 2010
Starbucks and Co-creation
Wednesday, August 25th, 2010Is Co-Creation Moving Into The Mainstream?
Tuesday, August 24th, 2010In 2008 McKinsey Quarterly published the article “The next step in open innovation,” mentioning distributed co-creation for the first time but concluded it was to early to predict what the outcome of this new business strategy would be. Then last week McKinsey Quarterly published an article about ‘Ten tech-enabled business trends to watch’. The first business trend they described was ‘Distributed co-creation moves into the mainstream’. (more…)
How Co-Creation is Changing the Cost of Innovation
Tuesday, August 3rd, 2010For a long time I have been interested in what happens with the cost structure of new product development when you start involving users in the innovation process. For the last decade research has pointed out that traditional NPD is becoming more expensive because of:
- Increasing investments in NPD of overall budget
- Increasing NPD cost per product
- Decreasing NPD cycle time
- Increasing NDP failure rate
In order to reduce risk and increase sales, companies often choose products aimed at a segment’s lowest common denominator, which results in a poor fit between consumer preferences and products and lately we have seen several examples of adverse consumer reaction to mass market products. (more…)