Search results

The purpose is to conceptually construct a service-dominant (S-D) logic-based integrated product service system (IPSS) business model.

The model is constructed through literature reviews and inferences.

IPSS model is in compliance with the ten fundamental premises of S-D logic as well as conforming to triple bottom lines of sustainability.

To convert a firm from goods-centric model to service-centric IPSS model is not easy. There are quite a few challenges to be overcome.

There are many successful cases adopting service-centric business model. The key success factors are to be identified in the future studies.

It is the first paper discussing the sustainability of IPSS model and its relationship with S-D logic.

The purpose of this paper is to contribute to research on the impact that the creation of value theory has on professional, organizational, and economic performance. However, a special emphasis is on explicating the theoretical foundation of the concept.

This paper is based on a hermeneutic study of the relationship between value creation and managing economic resources. The paper traces the value creation concept to its roots from the foundation of Western Civilization through the value theory of Adam Smith and up to recent technological age advancements in value theory.

Since its emergence the value concept has been explicated in an abundance of literature. However, there has been very little in regards to explanations detailing the theoretical underpinnings of the concept. According to John Stuart Mill, attempts to apply value theory will fail (due to misinformation or inaccurate information) without inclusiveness of the full scope of what is relevant for social science and social economic research.

Although studies on organizational behavior encompass the economic aspects of research economic research tends to be narrower in scope making it difficult to verify some value claims in economic terms. This is especially true in terms of making claims in regards to the connection between economic value theory, social value theory, the Philosophy of Economics, and the Philosophy of Science.

The study introduces a theoretical framework for integrating the value added and value creation concepts as a strategy for increasing shareholder benefits, stakeholder capital, and social capital.

The paper explains how the value creation concept contributes to an increase in wealth, prosperity, flourishing by drawing from a technological age approach to value creation.

The paper fills the void in the literature regarding the theoretical framework of the concept thus undergirds claims about its practical benefits by clarifying its theoretical framework.

It is argued that the service-dominant (S-D) view of the value co-creation concept is mainly of a macro nature and is difficult to examine empirically. In this regard, marketing research using the micro-foundation theory proposes some conceptual models, through which relationships (involving value co-creation) at a micro/meso level may be studied. The purpose of this paper is to add to such exchanges regarding value co-creation and conceptualize the link of embeddedness of an actor (in a service-ecosystem) to their engagement in the value co-creation process.

The authors draw on the S-D logic and the value co-creation concept and make propositions with regard to two micro-foundational concepts: actor engagement and actor embeddedness.

The authors show that actor embeddedness can be considered as an antecedent of actor engagement, which leads to value co-creation at a macro level and perceived value in context at the micro level.

The authors fill some gaps in literature with regard to S-D logic and value co-creation by combining two micro-foundational concepts: actor engagement and actor embeddedness and propose how through these, some macro-level outcomes such as value co-creation and resource integration may be determined.

This article aims to investigate the nature and characteristics of business model elements required for successful service innovation. The authors examine which unique resources and capabilities product-centric firms should develop and deploy to pursue service innovation.

Data collected from several research projects support iterations across empirical data and theory, in an abductive process. Empirical data come from product-centric firms; interviews and focus groups were the main data collection methods.

Specific resources and capabilities are needed for the proposed business model elements, as defined by the overarching strategy and structure. Firms can approach the process of service innovation from different starting points and sequences, depending on the context.

Because it takes a synthesizing approach, this research lacks some detail. By taking a business model approach with a holistic perspective, it forgoes detailed descriptions to provide greater breadth.

Managers can use business models as tools to visualize changes, which should increase internal transparency, understanding, and awareness of service opportunities and necessary changes. Dependencies exist among elements; a change in one element likely affects the others. This study provides insights into which efforts are necessary and offers managers a guiding framework.

By providing a multidimensional perspective on service innovation, this study merges various previous research into a synthesized discussion. Combining a resources and capabilities perspective with a business model framework also leads to new insights regarding service innovation and associated activities.

The purpose of this conceptual paper is to analyse the implications generated by a service perspective.

A conceptual analysis of two approaches to understanding service perspectives, service logic (SL) and service-dominant logic (SDL), reveals direct and indirect marketing implications.

The SDL is based on a metaphorical view of co-creation and value co-creation, in which the firm, customers and other actors participate in the process that leads to value for customers. The approach is firm-driven; the service provider drives value creation. The managerial implications are not service perspective-based, and co-creation may be imprisoned by its metaphor. In contrast, SL takes an analytical approach, with co-creation concepts that can significantly reinvent marketing from a service perspective. Value gets created in customer processes, and value creation is customer driven. Ten managerial SL principles derived from these analyses offer theoretical and practical conclusions with the potential to reinvent marketing.

The SDL can direct researchers’ and managers’ views towards complex value-generation processes. The SL can analyse this process on a managerial level, to derive customer-centric, service perspective-based opportunities to reinvent marketing.

The analysis and principles help marketing break free from offering only value propositions and become an organisation-wide responsibility. Firms must organise service-influenced marketing and create a customer focus among all employees, beyond conventional marketing.

A service perspective on business has key managerial implications and enables researchers and managers to find new, customer-centric, service-influenced marketing approaches.

In the discussion on service‐dominant logic and its consequences for value creation and marketing the inner meaning of the value‐in‐use notion and the nature of service marketing have not been considered thoroughly. The purpose of this paper is to analyze the meaning of a service logic as a logic for consumption and provision, respectively, and explore the consequences for value creation and marketing.

Being a research‐based paper, the topic is approached by theoretical analysis and conceptual development.

Discussing the differences between value‐in‐exchange and value‐in‐use, the paper concludes that value‐in‐exchange in essence concerns resources used as a value foundation which are aimed at facilitating customers' fulfilment of value‐in‐use. When accepting value‐in‐use as a foundational value creation concept customers are the value creators. Adopting a service logic makes it possible for firms to get involved with their customers' value‐generating processes, and the market offering is expanded to including firm‐customer interactions. In this way, the supplier can become a co‐creator of value with its customers. Drawing on the analysis, ten concluding service logic propositions are put forward.

The analysis provides a foundation for further development of a service logic for customers and suppliers, respectively, (“service logic” is preferred over the normally used “service‐dominant logic”) as well for further analysis of the marketing consequences of adopting such a business and marketing logic.

Marketing practitioners will find new ways of understanding customers' value creation and of developing marketing strategies with an aim to engage suppliers with their customers' consumption processes in order to enhance customer satisfaction.

For a scholarly audience, the paper provides a more truly service‐centric understanding of value creation and of its marketing consequences. For a practitioner audience, it offers service‐based means of further developing marketing practices.

In this chapter, the authors discuss how the features of the business landscape affect policies aiming to promote regional development. Regional development policies have been central in the European Union and at the single-country level. Measures taken to promote development in a geographical area, based on the concept of clusters and (national or regional) innovation systems, often fall short of their objectives. That is discussed against the findings on features of the business landscape that emphasise its heterogeneity and the importance of specific couplings within and across geographical areas. Prior Industrial Marketing and Purchasing (IMP) research emphasised the importance of firm-specific linkages to places and across places. One consequence is the relatedness of one place with other places, which implies that crossing the (imaginary) boundaries of a place appears to be the essence of business activity. The chapter concludes by highlighting how regional policies can benefit from acknowledging and taking into account firm-specific interdependences.

Marketing thought originating from the era of the barter system, gradually evolved into production and sales orientations, with greater emphasis on the process, quality, and selling of products. Thereafter, customer satisfaction as an essential component of the strategic decision process occupies a significant position among various marketing activities. This paper aims to address the inadequate research inputs on determining the time‐specific evolutionary relevance of marketing thought divulging into the essential components of each marketing concept, especially those with customer satisfaction as a dimension in the measurement construct.

A detailed, conceptually integrated analysis of various marketing philosophies is offered to facilitate business executives in examining the philosophy followed by their companies and how to move vertically in pursuance of improved business performance.

In comparison to the Indian market, which is fast becoming an attraction for the developed nations as an investment hub, it is the observed and experienced that public sector corporations are still at the production orientation stage, whereas private companies are predominantly using the sales‐oriented approach. The present status of customer orientation, market orientation and relationship marketing culture in India, is quite distinct from the status in the West as indicated by literature published in the developed countries. Banking, insurance, tourism, and hospitals still need to ensure minimum customer‐oriented services, which are not performed impressively in India.

Being a conceptual and country specific paper, the paper lacks wider generalization of its findings. Moreover, at many instances personal judgment of the authors might have resulted into biased interpretation.

Indian companies, with a few exceptions, lack an adequate orientation to pursue continuous market research in order to sense new developments, which are taking place due to the implementation of advanced information technology leading to greater exposure to customers. It can, thus, be synthesized that with respect to marketing practices in Indian settings, the existing large gap between the theory and implementation is drawing much attention from those concerned with the socio‐economic consequences associated with future business goals.

This paper can help managers in evaluating their business orientation level, but how to improve it further or update them as per ongoing changes in marketing thought and practice, has to be investigated and examined on continuous basis. Hence, empirical testing and validation of the constructs originating from the study have to be pursued, so as to analyze both the nature and the extent of the business orientation of a particular firm.