Value creation by company‐consumer interaction

Abstract

Company‐customer interaction is becoming increasingly widespread in industrial markets, bringing benefits that are both productive and strategic. This paper looks at the prerequisites for applying the same logic in consumer markets. The conclusion is that due to new technology and the emergence of more qualified and demanding consumers, the logic is already appearing in a wider range of industries, with interaction in one or more activities in the value‐creating process; in design, production and marketing as well as in the consumption and later destruction of products. But, up to now, the benefits are mainly on the consumer side. There seems to be some potential for considerable strategic advantages for companies, however, provided that their organizational structure is modified, new communication channels are built, the competence of the front‐line staff is developed, and the company culture becomes more consumer‐oriented.