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1 Osborne, Radnor, Z., & Strokosch, K. (2016). Co-Production and the Co-Creation of Value in Public Services: A
suitable case for treatment? Public Management Review, 18(5), 639–653.
2 Frommel, Manyk, R. L., Sub Multimedia, & Multimedia. (2022). Daily Quests or Daily Pests? The Benefits and
Pitfalls of Engagement Rewards in Games. Proceedings of the ACM on Human-Computer Interaction, 6(CHI
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This strategy can lead to increased customer satisfaction and long-term success for the
organization.
Q2
Firstly, the AMA (2017) definition of marketing is the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large. The fundamental purpose
of marketing is to create value by developing a variety of offerings, including goods,
service, and ideas, to satisfy customer needs. Tic Tac creates value by offering
customers four different flavors of candy. So, the goods are four different flavors of
candy in exchange for money. There are five core aspects of marketing, and marketing
is about satisfying customer needs and wants is involved. Tic Tac has launched four
different flavors of candy to meet the demand of customers for candy. Variety
selection is recognized as an important aspect of food-related behavior. (Rozin et al.,
2006). Multi-flavor approach can stimulate consumers' curiosity and satisfy
consumers' needs for the same product but different tastes. The use of color in product
packaging plays a crucial role in helping customers distinguish between different
flavors. By using different colors to represent different flavors, companies make it
easier for customers to identify the product they want. This is particularly important in
the food industry, where flavor variety is a key factor in consumer choice. The
interaction between flavor variety and color variety can have a significant impact on
consumer behavior.3When presented with a range of products with different flavors
and colors, consumers are more likely to make a choice based on their personal
preferences leading to increased customer satisfaction and loyalty, as well as
improved sales for the company. At the same time, a multi-flavored approach can
reduce perceived risks such as performance risk, financial risk, and social risk. Firstly,
the multi-taste method provides customers with the right to choose. If there is only
one flavor, if the customer does not prefer this flavor, it will not be able to meet the
needs of consumers, which reduces the performance risk. Secondly, product diversity
can attract more customers, if there is only one flavor and the market is cold, the
company may have loss. This reduces financial risk. Finally, the multi-flavor
approach builds more recognition and enhances the product's image, which reduces
social risk. It can also excite the customer for creating interest or desire of costumers
to the specific flavor of goods. The goods offer value to the target audience. So, it is
the diversification part of Ansoff Matrix to generate options for growth.