PROSUMER Meaning and
Definition
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A prosumer, a portmanteau of "producer" and "consumer," refers to an individual or entity who actively participates in both the production and consumption of goods or services. The term gained prominence in the late 20th century with the increasing accessibility of technology and the rise of user-generated content.
In the context of economics, a prosumer is a person who not only consumes products or services but also generates them for personal use or for the market. They exhibit a hybrid behavior, blurring the traditional distinction between producers and consumers. Prosumers often leverage advancements in technology to create or customize goods according to their preferences and then distribute them to others, either for free or for monetary compensation.
The term prosumer is closely associated with the growth of the internet and social media platforms. Online platforms, such as YouTube or blogging websites, have empowered individuals to create their own content and monetize it, thus transforming users into prosumers. With the advent of 3D printing and other technologies, prosumers can even produce physical goods, like prototypes or customized products, enabling a participatory approach to manufacturing.
Prosumers can be seen as active contributors to the economy, providing value through their creative contributions and enhancing consumer choice and experience. This evolving concept challenges the traditional understanding of passive consumers, highlighting the active role individuals can play in shaping market dynamics.
Etymology of PROSUMER
The word "prosumer" is a portmanteau that combines the words "producer" and "consumer". It was coined in 1980 by the futurist Alvin Toffler in his book "The Third Wave". Toffler used this term to describe a new category of consumers who were not passive recipients of goods and services but actively engaged in both producing and consuming. The concept of the prosumer emerged from the idea that advancements in technology and the rise of the information age would enable individuals to participate in the creation, customization, and sharing of products and content. The term has since been widely used in various fields, including marketing, business, and technology.
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