Innovation and Marketing Paradigm Driven by the New-Generation Internet
Hosei Business School of Innovation Management HOSEI University, 2-17-1 Fujimi, Chiyoda-ku, Tokyo 102-8160, Japan
With the advent of the Internet, customers now possess more information and knowledge on products and market than producers. This new supplier-customer relationship reflects a fundamental structural change from supply-push to demand-pull economy and is becoming more and more prevalent. Traditional company-centered strategies based on product and process innovation will now be unable to capture the market share as high as companies may have expected. Having said that customers are better informed, more professionalized and more closely interconnected in the network community, marketing paradigm should be remodeled to flexibly co-create new needs and values with them. The new-generation internet, web2.0 will help you tackle this challenge to a large extent. Competitiveness should be realized by implementing the concept of customer-centered “experience innovation.” It is internet marketing that will bring about experience innovation, and thus you should pay proper attention to its role to strengthen competitiveness. In this paper, we discuss the new frontier of innovation and internet marketing.