TITLE:
C2F2C Strategy Development: The Sichuan Fanqing Furniture Industry Company Case Study
AUTHORS:
Zhong Liang, Yin Jin, Maria Santos
KEYWORDS:
Innovation Ecosystem, Value Co-Creation, Hotel Furniture Company, C2F2C Strategy-Customer to Firm, Firm to Customer Strategy
JOURNAL NAME:
Open Journal of Social Sciences,
Vol.7 No.10,
October
17,
2019
ABSTRACT:
In a context of fragmentated competition and consumers’ demand, it is difficult to take advantage of the low cost and high efficiency of mass customization, while and also meeting the customers’ individualized needs. Internet led business increases the difficulty of balancing the offer of large production and customization, because companies face a high cost (C2F), while the customer’s satisfaction is low (F2C). Finding a solution to this trade-off is not only a major challenge in the process of company model transformation, but also an important topic that has not yet been studied in depth. This research applied the case analysis method to study the evolution of hotel furniture company innovation ecosystem and to suggest the development of value cocreation model. Meanwhile, the C2F2C development strategy of creating value between hotel furniture manufacturers and customers is constructed, which realizes the win-win value creation between companies and customers, and explores the effective ways to improve the technological innovation ability and international competitiveness of hotel furniture manufacturers in China.