Web 2.0 Based New Product Development for Consumer Goods: a New Approach to Open Innovation and Community Based Innovation

In the 21st century internet is getting as the main communication tool. After the introduction of Web 2.0 content of the internet became more dynamic and it is now created not only by companies but also by users. This opened a new platform where users can share their comments and moments from daily life supported with visual media. Furthermore internet also offers to exchange innovative ideas of users who are not satisfied with the existing products in the market. Collecting these innovative ideas and transforming them into the modified products will lead to greater market success. Moreover gathering customers/users with innovative ideas into a web 2.0 platform as a virtual community and integrating them into the new product development process will minimize the gap between the customer demands and product features in developing new products.