Apply the concept of wikinomics to a real product/brand. Use key terms globalisation, social media channels and prosumer.
WIKINOMICS
Wikinomics is the theory that the power of the internet has changed the way that we now spend money. People buy and sell products online to make money where this would not have been possible in the past. There are websites such as Ebay, Amazon and Gumtree which all allow for users to buy and sell new or used items. Ebay is an “online marketplace” where anyone can buy or sell anything. Not only can items be set to a fixed price, but they can also be auctioned and bidder on. This is something that you can do from your home just a laptop or mobile device.
The internet has become so powerful that people can make money by showcasing their work online through social media channels such as youtube. Youtube is a social media channel which is used to share videos worldwide, these videos can be uploaded and viewed by anyone, anywhere in the world. A prosumer is a person who produces their own content for consumption but also consumes products as well, YouTube is a prime example of a social media channel as it allows for communication with people through the aid of audio visuals. This is a channel which allows for prosumers to consume and produce content. YouTube allows for people to create their own content to be shared with everyone worldwide, however as there is so much content that is shared on this platform, they can consume content as well.
Globalisation is a way that large, corporate companies, spread themselves internationally. YouTube do this by promoting their values, the four freedoms. YouTube believe that their social media channel allows for freedom of : expression ; information ; opportunity ; to belong. They believe that YouTube allows for people to speak freely by sharing opinions or allowing creative freedom to allow for new voices and possibilities. As YouTube is a worldwide channel, this is a freedom that many people are not allowed during their regular everyday lives however the channel allows them to do this. They also believe that YouTube should be an easy way of accessing information as video is a powerful piece of education that can spread awareness and document world wide events. YouTube allows for everyone to have an opportunity to build their own business and succeed on their own terms, allowing for consumers to choose what is popular. Prosumers are given a place to belong on YouTube as it allows for people to find communities of support and break down barriers allowing different people from different countries and cultures to come together and share interests and passions. YouTube shows how the internet has changed and that it is becoming more and more powerful. It is a channel that allows people to put their work online and it is a new way of making money and growing a business. The channel allows for people to showcase their work to people nationally and globally, something that without the growing strength of the internet, wouldn’t have been possible in the past. This new world that we are living in is powered by the internet and is able to happen due to the capacity that things, such as video, can now to be stored online.