Question

Jonni has just started with a travel agency and has been offering clients and prospective clients a range of packaged tours. She is concerned because the commissions she is earning on her sales are lower than she had hoped. Her colleague Andrew, who has been with the agency for several years, is having a great deal of success by working closely with the clients, seeking their ideas, and building customized tour packages for each one based on their suggestions. Andrew’s approach is based on

Answer 1

Answer:

Co-Creation of value

Explanation:

Various action that increases the worth of business, services and goods is called value creation.

Co-creation of value is a business strategy.  In this strategy  the company encourages and promotes active involvement of the customer] for the creation of customized or on demand products. With co-creation the customers get exactly the type of product they want.  Customer input plays an important role in value co creation.

Some shoe companies allows the customers to give their input so that they can customize the shoe as per the customers needs, it is an example of value co creation.