Marketing Keywords to Know: September 3, 2015

P-Commerce

Definition: A sales model that relies heavily on the input and specific needs and interest of the consumer

Nothing appeals more to the consumer than getting exactly what they want – and participatory commerce (p-commerce) is a great example of how their feedback and specific needs can help launch and mold products accordingly. This strategy appeals heavily with the tech savvy generation since it allows them the ability to use social media and other platforms to vote for the launch of a product, make their own custom designs, and even fund products that they would like to see come to fruition.

Kickstarter is a great site that uses participatory commerce to fund projects of several types. You can fund a movie that you feel people need to see, provide a tech start-up with money for a groundbreaking product or support a local school for a good cause! These projects can’t reach their goals without the input and funding of the public!

What other p-commerce strategies have you seen? You may have come in contact with one without even realizing it!