Nowadays the way we market things have become incredibly different with the digital transition. What is noticeable about this transition however is that word of mouth has always played a role. In the past people used to talk to each other and give advice or opinions on products and services. The same happens now too, but in a different way, as we all seem to search for products online and therefore the interaction takes place online as well.
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Dell’s IdeaStorm: still co-creation?
Nowadays, the strategy called co-creation has taken the business world by storm and many firms try to hop on board. Co-creation allows companies and customers to interact with each other by creating a customer experience that is valuable for both parties. On one hand firms get a better grasp of the wants and needs of their customers, while customers on the other hand feel that their ideas are valued and their needs get fulfilled.
Provider recommendations VS. Consumer reviews in e-commerce
When buying products online, there is always a certain level of uncertainty for consumers because they cannot try out products or check the quality. This uncertainty influences their purchasing decisions. In order to accommodate consumers with their purchasing decisions e-commerce vendors provide different methods for consumers to gauge the quality of the product. This can be done by the following online product recommendation (OPR) methods: IT-enabled provider recommendations (PR) and consumer reviews (CR). The existence of OPR is important in order to provide shopping assistance and help buyers and sellers reduce information overload. Currently it is estimated that about 43% of e-commerce vendors offer PR and CR.
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Consumer Value Creation 