What is Virtual Platforms

Recently, with the rapid development of information and communication technologies, alternative solutions have emerged to respond to changing user requirements. The most important of these are digital media and technologies that allow users to share with each other and create media content within individuals or groups. These platforms, called social media, offer a technological infrastructure where sharing and discussion are principle concepts. Social media can provide not only increase in communication, but also it allows customers to take an active role in creating value in business. This means that social media have changed the way companies innovate with individuals. The purpose of the research is to reveal how social media is used for product development in the context of one of the most used technique by open systems called co-creation approach. This chapter can be considered as a model designed to demonstrate the use of social media's power.