Asked by Jennie Castillo on Jun 08, 2024
Verified
When Elise customized M&M candies for her daughter's graduation party, she was participating in value cocreation.
Value Cocreation
Customers act as collaborators with a manufacturer or retailer to create the product or service.
- Comprehend the fundamental principle of marketing as a method for generating value and forming relationships.
Verified Answer
IH
Israa HafiqahJun 14, 2024
Final Answer :
True
Explanation :
Value cocreation is the collaborative process between businesses and customers to create value through the exchange of knowledge, resources, and skills. Elise was creating customized M&M candies for her daughter's graduation party, which was a collaborative process between her and the company producing the candies to create a unique and personalized experience for the guests attending. This is an example of value cocreation.
Learning Objectives
- Comprehend the fundamental principle of marketing as a method for generating value and forming relationships.