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Co Creating Experiences With Customers: The New Paradigm


For more than 100 years, a company-centric, efficiency-driven view of value creation has shaped our industrial infrastructure and the entire business system.

Although this perspective often conflicts with what consumers value — the quality of their experiences with goods and services — companies see value creation as a process of cost-effectively producing goods and services. Now information and communications technology, the Internet in particular, is forcing companies to think differently about value creation and to be more responsive to consumer experiences. In fact, the balance of power in value creation is tipping in favor of consumers.

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Author: C.K. Prahalad and Venkatram Ramaswamy
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