14. What are the opportunities and risks of co-creation and co-design of products with consumers?

Question

Question

Answer 1

Answer #1

Co-creation and co-design imply the contribution of customers towards the development and designs of products.

Opportunities:

Information asymmetry is reduced between the customers and firms.
New and competitive products get developed.
New ideas are developed when conversations take place between firms and customers.

Risk:

Answer 2

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