Marketing is arguably amidst a paradigm shift. Marketing orientation is shifting away from creating exchanges (sales) to creating value (satisfaction) and relationships (cocreation of value). Ultimately, the main objective of all marketing activities is value creation. In the vast majority of cases, value is cocreated by several agents, especially the marketers and customers. From a value cocreation perspective, a single transaction can blossom to a process in which the customer and the marketer collaborate (rather than negotiate) for best total value through products, features, delivery terms, maintenance, and financing options for both business-to-business (B2B) as well as business-to-consumer (B2C) markets. Furthermore, marketers ...
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