Co-opting Customer Competence

More and more companies implement extended collaborations, be they with their business partners’ network, between enterprises with common interests, or even occasionally with competitors. But up until now, managers have underestimated the role of customers as potential partners, C.K. Prahalad and Venkatram Ramaswamy tell us. Indeed, an increasing number of consumers wish to participate in the development of products and services they feel are important. Some are even inclined to contribute their time and competencies. How to lean on such a welcomed contribution? This thorough article explains how to set up an extensive cooperation with consumers. It notably demonstrates how pioneering firms set up a continuous and fruitful dialogue with their clients, and build with them a more relevant customer experience.