Value co-creation: Literature review and proposed conceptual framework
Kumkum Bharti, Rajat Agrawal and Vinay Sharma
Indian Institute of Technology
Introduction
Service-dominant (S-D) logic was propounded by Vargo and Lusch in 2004 and gained prominence in the marketing literature for two reasons. First, it addressed the limitations of G-D logic (goods-dominant logic), which emphasised value-in-exchange, where value is realised at the point of exchange (Kotler 1967). Second, S-D logic gave birth to a new marketing approach that placed emphasis on the interactions between various actors (Payne et al.2008; Lusch & Vargo 2011), integration of resources (Vargo...