From Social Media to Social Product Development: The Impact of Social Media on Co-Creation of Innovation

Abstract

The objective of this paper is to discuss the impact of social media on customer co-creation in the innovation process. Customer co- creation denotes an active, creative and social collaboration process between producers and customers (users), facilitated by a company, in the context of new product or service development. We propose a typology of co-creation activities in order to develop conceptual arguments how social media can impact the relationships among customers involved in co-creation as well as the relationship bet- ween customers and the hosting firm. Social media can make eco- nomic-exchange relations more collaborative and social, but inter- estingly may also turn relations formerly based on social-exchange into money markets with strong competition among actors. As a result, we develop a set of questions that can lead future research in these regards