Quirky was founded in 2009. It is a online retailing store specializing social product. It seems normal, but it has a unique selling point.
The most special point is all the products Quirky sells are designed and produced by Quirky social community. Every member can provide designing ideas and product description. They can also vote to decide the most popular product they wish to produce and give suggestions. Each week Quirky selects the most popular product plan and makes it come true. The person who provides designing ideas will be the inventor and have the authority to design logo, packages and other details.
While most online retailing companies are competing price, quantity and promotion of the product, Quirky chooses a totally different way to gain market share and loyal customer. Do you think this DIY style online retailing plus social network will benefit the marketing outcome?
oh nice post, Terry.. well i must say that the way they r doing is completely different from others. However, I hv a question. Do they really get any benefits from what they r doing? regarding the number of products and price.. the number of their customers...
ReplyDeleteWhat a clever idea, I like it. Quirky are using their customers' concepts to design and develop new offerings for other customers. The main benefit I can see is that customers would feel a much stronger sense of involvement in the process, hence would be more likely to buy, and be less price-sensitive.
ReplyDeleteI didn't register for that website. Since Quirky is still running, thus they should get certain extent of benefit. I think the majority of customers also come from their social community. They design, produce, sell and purchase by themselves. The volume of the products won't be large, but should be enough for their community members.
ReplyDeleteI heard about a similar thing in the States where a company would allow consumers to submit T-Shirt designs and they would have a T-shirt of the week that consumers could purchase. I think its an amazing idea, it really gives power back to the consumers... In terms of profits this company has a base cost for producing the shirt and only if people 'bought' the shirt (kind of like voting for it) they would produce it, so they had a group of people already committed to purchasing it.
ReplyDeleteGiving consumers ownership over a product will make them more likely to purchase it - think about telling your friends your wearing shirt you designed.
I like the idea, it really brings the customer to the brand and therefore will help with creating loyalty.
ReplyDeleteGreat post Terry!
Ross