A cell phone maker has created a digital platform that allows it to directly interact with its customers.Customers are allowed to post their ideas regarding the features they want in the phones that the company plans to launch.What is this process of interaction between the company and its customers known as?
A) open innovation
B) strategic partnership
C) joint venturing
D) knowledge management

Question

Quizplus · Accepted Answer

The process of allowing customers to share their ideas for product development is known as open innovation. This represents a new way of interacting with customers beyond traditional market research techniques, as it allows companies to co-create products with their customers. Open innovation can lead to more successful product launches and greater customer loyalty.

A Cell Phone Maker Has Created a Digital Platform That