Strategy on development of innovative ecosystem in customer values

Abstract

Purpose

In a fierce competition environment in which product prices fall sharply or even tend to be free, only by realizing differentiated customer value through continuous innovation can companies respond quickly and effectively to changes and enhance their core competitiveness.

Design/methodology/approach

The innovation ecosystem takes the enterprise as the core, based on stakeholders such as partners, customers and intermediaries, and is highly concentrated in an industry or a region to form close horizontal and vertical links with each other[4]. With the goal of continuously creating differentiated customer value, the internal resources of the collaborative system are integrated, and through the rapid flow of knowledge, material and value between the various entities, the overall value-added ability is continuously improved.

Findings

The innovation ecosystem is the core for users to create expected and dream experience. It combines different knowledge systems of groups and individuals with different characteristics and backgrounds to create an environment where various ideas can effectively collide and recombine and integrate resources through multiple channels to form an organism.

Originality/value

Ecological factors in the production and application of technology diffusion and knowledge in the process of mutual influence, in the process of dynamic interactive learning and self-reinforcing, identify and understand the customer value, coordinated development of the overall operation of product and service system, to form a consistent brand and improve customer loyalty and ultimately improve the innovation ecosystem value.

Citation

Wang, X. (2021), "Strategy on development of innovative ecosystem in customer values", Business Process Management Journal, Vol. 27 No. 7, pp. 2110-2122. https://doi.org/10.1108/BPMJ-12-2020-0584