Toward a Better Understanding of the Role of Value in Markets and Marketing
Business & Finance, Marketing & Sales, Sales & Selling, Management & Leadership, Management
| Author: | Naresh K. Malhotra | ISBN: | 9781780529134 |
| Publisher: | Emerald Group Publishing Limited | Publication: | June 8, 2012 |
| Imprint: | Emerald Group Publishing Limited | Language: | English |
| Author: | Naresh K. Malhotra |
| ISBN: | 9781780529134 |
| Publisher: | Emerald Group Publishing Limited |
| Publication: | June 8, 2012 |
| Imprint: | Emerald Group Publishing Limited |
| Language: | English |
In their 2004 article "Evolving to a new dominant logic for marketing," Vargo and Lusch established the related principles that value is always co-created and, thus, firms cannot deliver value, but only develop compelling value propositions. This perspective is now known as "service-dominant (S-D) logic." Subsequent S-D logic work has suggested that value is not only always co-created; it also requires the integration of resources from multiple sources and thus is contextually contingent, since each instance of value creation involves the availability, integration, and use of a different combination of resources. This repositioning of value, from a static concept of something embedded in the output of a "producer" to be "consumed," to a dynamic concept of a co-created outcome in ever-changing, networked systems, can be seen throughout the manuscripts in this volume.
In their 2004 article "Evolving to a new dominant logic for marketing," Vargo and Lusch established the related principles that value is always co-created and, thus, firms cannot deliver value, but only develop compelling value propositions. This perspective is now known as "service-dominant (S-D) logic." Subsequent S-D logic work has suggested that value is not only always co-created; it also requires the integration of resources from multiple sources and thus is contextually contingent, since each instance of value creation involves the availability, integration, and use of a different combination of resources. This repositioning of value, from a static concept of something embedded in the output of a "producer" to be "consumed," to a dynamic concept of a co-created outcome in ever-changing, networked systems, can be seen throughout the manuscripts in this volume.
