In the current scenario:
- value propositions are more and more similar (“red ocean”);
- products and services are distinguished by the use of more technologically sophisticated means.
- products and services are commoditized ;
- customers cannot easily recognize the value and, consequently, are not always willing to pay for it.
  In this scenario customer experience has emerged as a new value offering. Experiences are unique; two individuals cannot have the same experience. Therefore companies have to rethink their business models and seek the means to reformulate their strategies under the customer/market perspective and to create an innovative value proposition in the market (“blue oceans”). That is where Experience Co-Creation is meant to be applied. |
As customers become more educated, connected and active, with skills and motivation to control their interactions with companies, companies, in turn, have to look beyond products and services and offer “experiences”. Experience Co-Creation breaks the traditional logic of value creation (company to market) by encouraging customers to create their own interactions with the company.
From a practical perspective, ECC offers paths for companies to find out new sources of competitive advantages and change the rules of the game. This new approach of the business concept helps companies to gain new insights, thus generating a continuous innovation process shared with customers.
With countless applications in the United States, Europe, Asia and Latin America, Experience Co-Creation is based on the concepts developed by C. K. Prahalad and Venkat Ramaswamy, who, initially addressed the cooptation of customers’ competences in value creation processes. Ramaswamy is the chairman and founder of ECC Partnership, of which Symnetics is the exclusive affiliate for Latin America.
The Experience Co-Creation methodology developed by Symnetics and ECC Partnership will build internal and external capabilities to facilitate innovation and co-creation inside companies.
This methodology generates innovative business ideas and by using the Experience Co-Creation concepts, it engages customers, partners and employees in building and testing ideas to develop effective business opportunities. This work is supported by a solid Business Case to justify the innovation cost-benefit, in addition to ensuring win-win relationships between companies and their customers/partners.
The implementation of experience environments is possible through ongoing learning with people and development of a center dedicated to innovation and co-creation.
For more details, see also www.eccpartnership.com.
CO-CREATION – A PROVEN METHOD