There's an increasing number of concepts around the notions of co-production and co-creation. The following matrix helps provide a useful map to navigate between them. The matrix distinguishes between the concepts according to whether they are consumer led or producer led and whether the value being generated is standardised across customers or personalised for the individual.
The complete report from which it is taken is here:
http://personal.lse.ac.uk/samsona/cocreation_report.pdf
