Malloy 13 must recognize, “the balance of power in value creation is tipping in favor of consumers.”18 While youth, as argued by a number of sources, are more willing to share, participate, and relinquish ownership, the market is still largely divided. Prahalad and Ramaswamy argue the use of interaction between companies and customers as a basis for co-creation is at the core of our new reality. We need to focus on factors that determine experience, what they call elements of exchange. Co-creation of value is now echoed by ad leaders such as John Young, of Wunderman Y&R, who offers the examples of creating an experience through Best Buy’s Geek Squad and Starbuck’s brand philosophy.19 As mentioned, Nike would also fall into this approach of cocreating value in how they involve users through varying levels of participation. NikeId allows users to participate in the design process, while NikePlus creates a platform for them to build and share their own community. As is evident, Prahalad and Ramaswamy’s methods of co-creation now permeate advertising approaches.
Who does not value it? Sanders offers her recent articles and speeches on her website, www.maketools.com; her responses to various sets of questions at the ends of speeches reveal hesitancies her peers have with her approach. “How much does the user creation actually influence the design? How are results measurable? What kind of expectations for implementation do users have?” Her answers are solid, explaining the challenges in the context of benefits. In one of her articles, she explains how the fact that conversations about co-creation live primarily among
18
C.K. Prahalad, Venkatram Ramaswamy, "The Co-Creation Connection." Strategy + Business 1, no. 27
(2004): 2-12. http://74.125.155.132/scholar?q=cache:k8hjkqlqRnMJ:scholar.google.com/+cocreation+connection&hl=en&as_sdt=0,11&as_vis=1 (accessed March 30, 2011). 19
jakesnake321, "John Young - Marketing expert, marketing speaker - It's The Experience." YouTube
http://www.youtube.com/watch?v=wfbDgKHFfs0 (accessed February 21, 2011).
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