I was searching to find examples of mass customization and as I am addicted to chocolate I found this “tasteful” example. This chocolate company gives you the opportunity to:
Now that we have accomplished our presentation (on Monday’s 16th lecture)…it is time to share with you our worthwhile experience to get there!
To begin with, we would like to share with you the most important points that we gained from studying the relevant articles and searching through different sources!
Mass customization refers to a customer co-design process of products and services which meet the needs of each individual customer with regard to certain product features.
Based on the problems that can occur when applying mass customization and the principles that should be followed in order to avoid them, we found two real-life examples of mass customization from two specific companies from different industries. We chose these totally different examples to show that mass customization can be implemented everywhere. Both Mini Cooper and m&m’s apply mass customization giving customers the opportunity to design the overall product based on their individual needs and preferences.
Branding is more than just a business buzzword. It has become the crux of selling in the new economy. If the old marketing mantra was,” Nothing happens until somebody sells something,” the new philosophy could be” Nothing happens until somebody brands something.”
A brand represents many intangible aspects of a product or service: a collection of feelings and perceptions about quality, image, lifestyle and status.
The diagram below illustrates the factors that are crucial in building successful brands.
We are going to give further details for the most of the above factors, somehow indirectly, analyzing brand communities and brand signals.
As I was searching for open innovation and its benefits I came across a site named ideaconnection.com. It is a company which gives businesses access to the world’s most creative and innovative people, who work collaboratively to solve problems and develop innovations.
The point is that in this site you can find some open innovation success stories. The most interesting thing is that there are not only businesses that use open innovation but also towns or cities such as Birmingham, United States, that are benefiting from open innovation. Specifically, the charity of the city launched an international on-line contest called Prize2theFuture to solicit ideas for how best to use a city parking lot next to its Railroad Park. The residents were submitting ideas to make the city better and the prize for the winner was $50.000.
Another interesting story is that in California an open innovation competition encourages the inputs of local residents into the creation of new laws.
It is worth to take a look at these stories…
http://www.ideaconnection.com/open-innovation-success/
Chara Tsifaki
Consumer Value Creation 