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Abstract:
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The effects consumer -driven innovation can have on an industry can be difficult to quantify . In this thesis I seek to highlight their existence and underscore their influence by observing the historical impact of numerous innovations on modern technology and society . Using the photography industry as a case study , I will show how successful companies leverage consumers to increase profits and technological development . Companies unable or unwilling to adapt will struggle to maintain profits and become insignificant in the market place . It is also important to consider the enablement of customers by these manufacturers . Advancements in the primary industry as well as supporting industries can lead to variability in market growth and often stimulate societal changes . As consumer innovators progress towards production , it is increasingly important that manufacturers adapt and redefine their market presence . Consumers are a powerful force and represent more than financial capital . My research shows that creative companies can harness consumer energy and find opportunities in the intellectual capital of the crowd . |