Consumer-driven innovation : a photography case study
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The effects consumer-driven innovation can have on an industry can be difficult to quantify. In this thesis I seek to highlight their existence and underscore their influence by observing the historical impact of numerous innovations on modern technology and society. Using the photography industry as a case study, I will show how successful companies leverage consumers to increase profits and technological development. Companies unable or unwilling to adapt will struggle to maintain profits and become insignificant in the market place. It is also important to consider the enablement of customers by these manufacturers. Advancements in the primary industry as well as supporting industries can lead to variability in market growth and often stimulate societal changes. As consumer innovators progress towards production, it is increasingly important that manufacturers adapt and redefine their market presence. Consumers are a powerful force and represent more than financial capital. My research shows that creative companies can harness consumer energy and find opportunities in the intellectual capital of the crowd.