Value creation potential through effective information and knowledge exchange between manufacturing firms and customers
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Manufacturing firms are continuously striving to stay competetive by creating value for their customers. As the time is changing, needs of customers are also changing and it is need of the hour to gather information about that. Therefore, it is essential for organizations to interact closely with customers in order to obtain information of their preferences and then develop it into knowledge that can be further use to create value for both parties. The thesis was conducted to examine the working and information channel of ’The Showroom’, a new service developed by case company to interact closely with their customers in order to provide better products. The goal of this research was to identify issues related to working and information channel of new developed service and then develop a framework in an effort to create value through information exchange channel between the customers and this service. The research was constructed in sensible and mixed method approach by mainly utilizing semi-structured quality interviews and already developed research work regarding value creation through knowledge intensive services. With the help of interviews, initial situation of the service ’The Showroom’ was clear, which indicated issues like noise in the information channel, sample manufacturing, lead time and customer satisfaction. The final version of framework not only tackles the issues but also provides systematic approach to run new service business to create value through effective knowledge exchange in product development.