The concept of co-creation has been central to a variety of service industries for several decades. A tool to fuel innovation and customer satisfaction, co-creation acknowledges that the success of any given enterprise depends not only on the expertise, assets, and core competencies of the service provider but also on the knowledge and perspectives of the target customer as well. Co-creation extends beyond consultation with or participation of consumers. It is about integrating customers into the processes of product and service ideation and execution so that their unique perspectives and cooperation may ultimately drive value for both the producer and the customer [1, 2].
Nike® is a prime example of a company that successfully incorporates co-creation into its business model. The athletic footwear company creates online communities that serve as a vehicle for management to be apprised of the latest reactions and feedback to its products. In turn, Nike offers its customers a forum to express their experiences as well as educational resources from Nike “experts.” Customers find value in the platform products and the services that connect them to users and experts, which builds trust and “stickiness,” and Nike derives value from real-time feedback on products that enables more optimal redesigns [3]. Co-creation becomes a win-win for all involved, and it is thus not surprising why several industries—technology, education, retail, law enforcement, and financial services, to name a few—employ co-creation in their core practices [1].