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Abstract and Applied Analysis
Volume 2016, Article ID 3729791, 10 pages
http://dx.doi.org/10.1155/2016/3729791
Research Article

The Impact of Cocreation on the Student Satisfaction: Analysis through Structural Equation Modeling

1Facultad de Administración y Dirección de Empresas, Universidad Politécnica de Valencia, Camino de Vera, s/n, 46022 Valencia, Spain
2Facultad de Ciencias Administrativas, Escuela Politécnica Nacional, Ladrón de Guevara E11-253, 170517 Quito, Ecuador

Received 12 May 2016; Accepted 2 November 2016

Academic Editor: Ivan Ivanov

Copyright © 2016 Odette Pantoja Díaz et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

The objective of this study is to apply the cocreation initiative as a marketing tool in the context of university undergraduate programs. Considering that cocreation is a practice that involves stakeholders in different phases of product production or service, this research analyzes the interactions between some of the factors during the cocreation process as students collaborate with the university. These factors are participation, communication, cocreation, and satisfaction, and this study focuses on how they fuse together at the moment of cocreation. After a literature review, which supplied the basis for creating a model, we used exploratory and confirmatory factor analysis and structural equation modeling to validate the hypothesized relations between the variables; finally, the proposed cocreation model was verified. The results could empower academic institutions to develop managerial strategies in order to increase students’ collaboration and satisfaction.