Higher education is in a transition period with a focus on diversity. This new scenario drives the University through a moment of organizational and pedagogical restructuring in their way of thinking and acting, driven by the new needs of the educational market, the social context and the labor market. In the classroom scenario, the use of active methodologies with the exchange of knowledge and experiences between professors and students is fundamental, factors that facilitate group engagement, resulting in their satisfaction. The present study aims to highlight the importance of the value co-creation for the educational market, more precisely for private higher education institutions, and it is possible to think of the classroom in a Business Master Administration as a space for reflection and exchange of experiences between professor and student, presenting the following question: How can the professor-student relationship co-create value in the teaching-learning process, in a Master program in a University in south of Brazil? The importance of this research for marketing management, focused on the educational market lies in different contexts related to value co-creation in the classroom, enabling multiple experiences and interactions between professor and students, which contribute to the processes of teaching and learning.