Value co-creation: Literature review and proposed conceptual framework

Recently, the concept of value co-creation has gained popularity as it embraces customer and operant resources into the entire value-creation process, thereby overcoming the gaps of conventional marketing.

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...

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