SkinID is a new product that is based on unique customer needs. It is a personalized product for your skin. It works as following: On their website (www.skinid.com) you can evaluate your skin. You have to fill in some data like age, gender and skin type. Then there are some questions about your skin. The possible answers are very clear. After you have filled in 18 steps you get a personalized skin product just for you. I think this a good example of a product that uses consumers information to create the product itself. What do you guys think about it?
There are two sources of information. On one side, consumers possess information regarding their needs, preferences, tastes. On the other side, companies have information about their targets, capabilities, budget restrictions. Companies are trying to get access to consumers’ information. they want to know what they want, what they need, in order to offer the best match possible. Although advances in modeling allow for more accurate predictions of consumer choice behavior, there is still a lot left unknown. A lot is remained probabilistic. Continue reading Open Innovation & Lead Users→