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Showing posts with the label consumers

Innovating Products and Services with the Internet

Innovation occurs when individuals have a need for specific products and information. The internet has fostered a greater transference of information and we now see product innovation growing at a faster pace than at any point in history. This innovation isn’t always company fostered and can generate organically from consumers. A study by Takeyasu & Sotaro (2014) helps support the notion that innovation and consumption are related. In their study they reviewed 1,000 music users to determine how consumption and innovation are interrelated. Innovation comes through companies or through consumers. The concepts of user generated content and user innovation have made their way into the field. Users actively engage in the creation process and further the development of products, concepts, and ideas. The Internet has raised the communication levels to new heights and allows users to build on existing products. In the past, research was primarily focused on the innovation of i