ABSTRACT
This chapter focuses on the value that emerges from the “Exchange” between the customer and the company as a second component of the “7Es” of the experiential marketing mix that replaces the “P” of price, which is part of the traditional marketing mix approach, or the 7Ps. It shows how “Exchange” of value between customers and companies can be the focus rather than price in designing suitable and profitable customer experiences. The idea of co-creation has been a rather new conception in the services marketing domains that supplement a relevant understanding regarding the difficulties of the experience and exchange value expected by customers. Values-in-exchange can encompass different elements that are dependent upon the context, in which the co-creation process is implemented, the objectives of the company, and the outcomes sought by customers. The firm and the customer cooperate in order to create unique offers, and value-in-exchange can be seen as a flow of experience co-created by the customer.
