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05.09.11 NPD Glossary

Co-Creation

A form of market or business strategy that emphasizes the generation and ongoing realization of mutual firm-customer value.  It views markets as forums for firms and active customers to share, combine and renew each other’s resources and capabilities to create value through new forms of interaction, service and learning mechanisms.  It differs from the traditional active firm – passive consumer market construct of the past.

For additional new product development glossary terms and definitions, click here.

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