Companies adopting concept of Customers as Innovators

Just as blogs and forums have turned audiences into participants, other industries have thrived by developing tools to turn their customers into creators. As per latest news India, the pace of change in many markets is too great and the cost of understanding and responding to customer needs can quickly spiral out of control. Some industries have already succeeded in turning their customers into contributors and innovators. Knowing they cannot predict the shifting desires of their customers, these companies have instead created the tools and frameworks to empower their customers to create. Essentially, these companies have abandoned their efforts to understand exactly what products their customers want and have instead equipped them with tools to design and develop their own products, ranging from minor modifications to major new innovations.A number of industries are succeeding through this approach. As in India news, companies such as Nestlé have built a toolkit that enables its customers to develop their own flavours. GE provides customers with web-based tools for designing better plastic products. This approach has transformed the semiconductor business, bringing the custom-chip market to more than $15 billion. Participation has been a fundamental component of the Internet since its inception. Newsgroups, mailing lists and bulletin boards were the early cousins to the forums, weblogs and collaborative communities flourishing today. Those early forms are still thriving, a testament to our need to stay connected to our social networks. Participatory journalism flourishes in social media the interpersonal communication that takes place through e-mail, chat, message boards, forums and in collaborative media hybrid forms of news, discussion and community. This section categorizes the forms in which participatory journalism takes shape. Some of these forms continue to evolve and merge and thus overlap. The list, while generalized, is meant to describe the outlines of that participation and the communities where it resides. The end goal of filtering Latest India news is the same in all to amplify the voice, separating the meaningful information from the rant. Online discussion groups are the oldest and still the most popular forms for participation. Discussion groups run the gamut from bulletin boards and forums to mailing lists and chat rooms. Participants might engage a discussion group to answer tech support questions, to trade stock-trading tips, to argue about a favorite sports team, to share experiences about a health care issue, or to join a collaborative work project. Sometimes this leads to more thoughtful contributions, because participants have more time to refine their responses.