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1 – 10 of 270Stephen L. Vargo, Robert F. Lusch, Melissa Archpru Akaka and Yi He
The pandemic had a huge negative impact globally on small and micro firms, particularly on cultural enterprises, making it imperative for them to create strategic solutions for…
Abstract
The pandemic had a huge negative impact globally on small and micro firms, particularly on cultural enterprises, making it imperative for them to create strategic solutions for sustainable business models and customer relationships. This chapter studies the digital interventions employed by the micro cultural enterprises in the Japanese Onsens (Hot baths) sector during the pandemic period in Japan. Using the theoretical lenses of service dominant logic and value creation, the study extracts four prominent value creation processes from the analysis of the employed secondary data. The study underlines the importance of collaboration between a firm's internal and external resources, their creative use of operant resources, and a robust customer orientation leading to creative digitalization. The results of the study show how cultural enterprises can rethink customer service in the cultural and creative sector. It also draws attention to the need for more robust policies and support systems that can encourage global cultural enterprises to develop sustainable business models.
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Stephen L. Vargo and Robert F. Lusch
In this introduction we clarify the nature and scope of value in service-dominant (S-D) logic, as well as briefly discuss how the essays in this volume relate to this framework…
Abstract
In this introduction we clarify the nature and scope of value in service-dominant (S-D) logic, as well as briefly discuss how the essays in this volume relate to this framework. We also share some thoughts on the need for, and S-D logic's role in, the further theory development about value and value cocreation, in general, and marketing, in particular.
Melissa Archpru Akaka, Stephen L. Vargo and Robert F. Lusch
Purpose – The purpose of this essay is to explore further the concept of value cocreation from a service-ecosystems view, by considering the importance of networks and the…
Abstract
Purpose – The purpose of this essay is to explore further the concept of value cocreation from a service-ecosystems view, by considering the importance of networks and the configuration of relationships and resources in markets.
Methodology/approach – We use a conceptual approach to extend a service-dominant (S-D) logic, ecosystems view of value cocreation by drawing on the literature regarding networks in marketing and related research.
Findings – A service-ecosystems approach to cocreating value-in-context is proposed, which points toward networks as mediating factors in value cocreation because they influence the ability to access, adapt, and integrate resources by establishing exchange relationships and shaping the social contexts through which value is experienced.
Research implications – This research suggests that value cocreation is a complex and multidimensional process that is best studied in the context of dynamic networks or ecosystems of service exchange.
Practical implications – This research suggests that networks mediate value cocreation, and thus, firms should consider the configurations of relationships and resources to develop more compelling value propositions.
Social implications – This research draws on the idea that exchange relationships are embedded within society and suggests that processes of value cocreation not only draw on but also contribute to the social contexts that frame market exchange.
Originality/value of essay – This research extends the value cocreation and S-D logic literature by exploring the role of networks in service ecosystems. In this framework, networks are mediators of value cocreation because they enable access to resources and help to (re)shape social contexts through which value is derived.
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Huiru Yang, Delia Vazquez and Marta Blazquez
The competitive luxury market raises higher requirements for luxury brands to effectively involve young generations in creating and endowing meanings to products, services and…
Abstract
The competitive luxury market raises higher requirements for luxury brands to effectively involve young generations in creating and endowing meanings to products, services and experiences. Several researchers suggest that art experiences create a fertile source of co-creation practices for cultural customers as they could engage in cognitive, emotional and imaginal activities to endowing meanings to products or services. Hence, bridging art and luxury is of significance for luxury brands to create value and engage their customers. This chapter delivers the essence of value for luxury brands and their customers and focusses on how luxury brands deploy art-based initiatives as a favourable technique in which value co-creation takes place.
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Barry J. Babin and Kevin W. James
This chapter focuses on how retailers can do the right thing and be successful at the same time, particularly in the light of technological innovation. Service dominant logic…
Abstract
This chapter focuses on how retailers can do the right thing and be successful at the same time, particularly in the light of technological innovation. Service dominant logic (SDL), with the notion of operant and operand resources as a means to connect the retailer to the customer, provides a framework for the chapter. Normative decision making is presented as a necessary ethical and practical mindset to solve problems, and we illustrate the relationship between normative decision making and value. Value becomes the ultimate outcome to the customer that will allow for sustainable retailing into the future. Utilitarian value and hedonic value are presented and elaborated upon to show how companies and consumers come together to transform resources into value through service. Sections are included showing how value delivery will evolve into the future and what mix of value will be necessary so that retailing can see continued success.
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Bernard Paranque and Bernard Cova
The aim of the chapter is to focus on the connections between three types of actors who build the new world of brands – consumers, marketers, and financier – by focusing on the…
Abstract
Purpose
The aim of the chapter is to focus on the connections between three types of actors who build the new world of brands – consumers, marketers, and financier – by focusing on the co-creation of value between the brand community and the company owning the brand.
Methodology/approach
The chapter use three case vignettes to highlight the dual process at play when a community of consumers co-create brand value.
Findings
The chapter not only highlights a value-creating trajectory for companies but also shows how a reverse process can destroy value for the very same companies. It suggests that marketers’ desire to maximize the value co-created between the company and the community in order to answer the financial requirement of brand valuation could damage the value co-creation process. According to our case vignettes’ results, these marketers are exposing themselves to the risk that consumers/fans will rebel as a result of this branding maximization, leading in return to the creation of a competitor in the form of a community brand.
Research limitations/implications
Future research will have to investigate how by cutting across organizational boundaries and functional areas, brand communities would reshape the marketing–finance interface.
Practical implications
The chapter stresses the need for companies to manage carefully the triadic relationship community/marketing/finance in order to avoid the development of a reverse brand value destruction process. In addition, the chapter contributes to research on the marketing–finance interface by highlighting the need to look beyond this level of interaction when it comes to branding.
Originality/value
Starting with the principle that consumers grouped into communities are increasingly responsible for making brands through their value-creating practices, the chapter highlights the problems raised by the company’s will to transform them into value for shareholders.
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Bo Edvardsson, Per Skålén and Bård Tronvoll
Purpose – The aim is to introduce a sociological perspective on resource integration and value co-creation into service research using a service systems…
Abstract
Purpose – The aim is to introduce a sociological perspective on resource integration and value co-creation into service research using a service systems approach.
Methodology/approach – Conceptual and a case study of the service system a Telecom Equipment and Service Provider is embedded in is reported.
Findings – The service practice of the service system is framed by social structures of signification, legitimation, and domination. However, the practice is also independent of the structures since it is embedded in and shapes the structural realm.
Research implications and limitations – Drawing on structuration and practice theory, the chapter offers a new framework describing how social and service structures and practices can inform and reveal mechanisms of service system dynamics. Based on the framework, three propositions are developed focusing on the mechanisms of resource integration and value co-creation. The implications need to be generalized in future research by studying other empirical contexts.
Practical implications – The chapter provides some tentative guidelines on how organizations can design service systems that enable and support customers and other actors in their resource integration and value co-creation processes by paying attention to social structures and forces and not only resources as such.
Originality – The chapter explicates how social structures have implications for value co-creation and resource integration in service system. It makes systematic use of structuration and practice theory to understand the social dimensions of service systems. A distinction between intended and realized resource integration is made.
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