Mechanism And Strategy Of Co-creation Value Considering Of Customer Participation In R&D Process

With the development and widespread use of the Internet and emerging information technologies,consumers can gradually transform from traditional passive buyers to partners of value creators and producers.Xiao MI,Dell and other companies as examples,companies use online platforms to allow customers to participate extensively and deeply in the research and development of enterprise innovation chain,and customers contribute their ideas and innovative views on the company's product development using the customer experience,knowledge.Together with companies,they raise questions and solve problems,and jointly create Value.Customers obtain personalized products and services,which reveals its personalization features,more fully meets the requirements of customers,at the same time in order to promote enterprise R & D to create a good condition.Customer participation in enterprise R&D is the initial process of product value creation.It not only increases product acceptance,satisfies customer needs,but also increases revenue for the company,but at the same time it also generates corresponding costs.In this process,because both companies and customers have the costs and benefits,they restrict each other and affect the products they research and develop.Therefore,there are a series of problems,such as the value measurement of customers,companies and products,the mutual influence mechanism between corporate value,customer value and product value,as well as the operation strategies for different customers.In this context,this article first combs and analyzes related theories such as value co-creation,subject value,and customer involvement in R&D.Through the analysis of customers' participation in R&D practices,the paper identifies its system boundary and composition.Second,in the customers involved R&D system,based on a multi-objective perspective,fully consider the benefits and costs of companies and customers,analyze the behaviors and factors that affect customer value,corporate value and product value,as well as the mutual influence and feedback between customers,companies,and product values.Using system dynamics,this paper establishes a dynamic value co-creation model in which customers participate in the R&D process,and fully exploring the co-creation mechanism within the system.Finally,on the basis of the model,Xiaomi company data was used to focus on the simulation of strategies such as product price,interaction frequency,and incentive fund ratio.Through the interpretation of model simulation results,corresponding management opinions were put forward to enable enterprises,customers,and products to achieve co-creation value.The main conclusions of this paper are as follows:(1)As the number of interactions between customers and enterprises increases,the life cycle of the customer participating in the research and development process also has the characteristics of introduction,growth,maturity and decline.(2)The system has an optimal number of interactions;and the optimal number of interactions increases as the proportion of R&D investment decreases.(3)Without considering incentive funds of participating in R&D customers,and in the condition of the optimal number of interactions,when the company conducts pricing for different customer groups(participating in R&D customers and ordinary purchasing customers),unified pricing model which will bring greater benefits for the enterprise is better than that of differential pricing model.This paper theoretically explores the system internal value creation mechanism in the process of customer participation in the enterprise,establishes an operational feedback system model composed of customers,enterprises,and R&D products,and provides corresponding strategies for companies to implement the customer participation mode,so as to realize the co-creation value of customer and company.