Global Market Research

Co-Creation Market Research

Back to Glossary

Co-Creation Market Research

Co-Creation market research is a methodology which involves a discussion between a brand, company or organisation and stakeholders within it, and that organisations customers or clients. Co-creation takes in to account a new vision of markets as a shared space between customers and brands, where each is open to review the motives, capabilities and success of the other - in terms of designing a product, marketing it and generating positive feedback from a company or business point of view, and in terms of a customer's ability to pay for that service, the reasons why they might be motivated to choose one brand or product over another, and any wider issues within that market that have a role to play - such as legislation for example.

One of the key benefits of co-creation is the personalisation of experience for consumers, and the potential for on-going loyalty and thus long-term revenue for the business. Co-creation often results in products which are customisable for individual consumers (or more likely individual groups of consumers). A good example of this is the iPod, created by Apple. An iPod moves away from the solely product-focussed creations of walkmans for instance, and instead allows buyers to create their own, totally unique, bank of sounds on a device which is at the same time both totally personal and almost ubiquitous in the modern developed world. Although this idea of co-creation moves away somewhat from the market research application, it is a good analogy - the company and the customer work together to create a product which fulfills the goals of both parties.

Support Us..

We hope that you have found this article useful. This section is freely available for all to use. Please help support it by liking us or following us on our social media platforms:

Share this article..

For updated Co-Creation Market Research information please follow us on @djsresearch.

© DJS Research 2017