A part of presentation Speech or Example | Topics and Well Written Essays - 500 words

A part of - Speech or Presentation Example r practice platform; whereby on one hand, there is consumer expertise and free creativity, on the other hand the ways that the consumer activities are desirable by marketers. Co-creation however has marketing challenges with the establishment of ambiences that programs the freedom of consumers to exist in ways that allow harnessing of new liberated consumers and productive capabilities (Lury, 2004). The exchange of value and production of products or service depends mostly on capturing and generating iterative social communication as well as cooperation among consumers and corporations and consumers themselves. The principles of co-creation demonstrate the reconfiguration of power and labor characteristic of knowledge based and contemporary capitalism (Prahalad,2000). Putting customers to work is not entirely a new idea. For example, the increase in rationalized processes of the Facebook world that has relied much on appropriating customer work. Facebook allows its users to share their personal information on the website and also collects information from the `like` option then sells the data to other advertising websites hence earning money through the information shared. This makes the company successful and more profitable. Hereby, the co-creation concept illustrates how Facebook transfers the logic of consumer work from the production sphere and process efficiency to innova tion and development of a new product (Ritzer, 2004). Economy of co-creation involves experiments of value creation new possibilities, which are based on expropriation of technological, affective, cultural and social labor of the customer masses. Based on the consumer cooperation, co-creation demonstrates a dialogical model that does not privilege the vision of a company on production but what constitutes on the customer value or the marketing profession. In this case, rather than make customers work to rationalize the process of production as well as focus on their efficiency,