Toward a Better Understanding of the Role of Value in Markets and Marketing (Review of Marketing Research)

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ISBN 10: 1780529120 / ISBN 13: 9781780529127

Published by Emerald Publishing Limited, 2012

About this Item

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Bibliographic Details

• Title: Toward a Better Understanding of the Role of Value in Markets and Marketing (Review of Marketing Research)
• Publisher: Emerald Publishing Limited
• Publication Date: 2012
• Language: English
• ISBN 10: 1780529120
• ISBN 13: 9781780529127
• Condition: Brand New

About this title

Synopsis

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.

About the Author

Stephen L. Vargo - University of Hawaii at Manoa, USA
Robert F. Lusch - University of Arizona, USA