Crowdsourcing Submit a task, problem Industry Email List or issue to third parties and offer them compensation for providing a solution. Advantages: Crowdsourcing can increase innovation capacity and provide surprising insights. It can be a good way to co-create with future customers. Challenges: Formulate the issue as concretely as possible and define the role of the crowd. Communicate clear and transparent selection criteria. Choosing the right incentives to activate the crowd. If everyone is Industry Email List allowed to participate, many contributions can be of low quality. In this department, cars are completely decorated to the wishes of the customer, where no wish is too crazy. About 95% of the cars sold go through the Bespoke department, which gives Rolls Royce a nice extra income stream.
Selecting the best ideas can Industry Email List be time consuming. Crowdsourcing example: Threadless – unique designs and insight into customer needs For Threadless, crowdsourcing is the foundation of the company. The company invites designers around the world to design T-shirts and submit them on the platform. Customers can Industry Email List vote for the designs they like best. The T-shirts with the most votes are produced and marketed. Designers receive compensation when their design is put into production. Also read: 4 common online business models & their key metrics 3. Custom Design The complete focus on tailor-made products and services. Rolls Royce – Handmade artwork, tailored to customer wishes custom Industry Email List design At Rolls Royce, the prestigious British car brand, the customer is king. Those who find a 'normal' Rolls Royce too ordinary can enjoy themselves in the Bespoke department.
The design, production and Industry Email List sales are tailor-made and according to the wishes of the customer. Advantages: Align the offer better with individual customer wishes. Possibility to appeal to a group with purchasing power who are willing to pay more for customization. Savings on inventory costs. There is no stock of finished Industry Email List products and the stock of raw materials is often low. Challenges: Production is often labour-intensive and considerably more expensive. Lower delivery capacity than mass production. Chance of long delivery times. Example custom design. Decoy Pricing The phenomenon whereby Industry Email List in the choice between two alternatives there is a greater consumer preference for one of these two options, as a result of the addition of a third decoy option.