In this episode, Alex Drago and Wais Pirzad discuss Stephen Vargo and Robert Lusch’s seminal paper Evolving to a New Dominant Logic for Marketing which was originally published in the Journal of Marketing in 2004. Abstract: Marketing inherited a model of exchange from economics, which had a dominant logic based on the exchange of “goods,” which usually are manufactured output. The dominant logic focused on tangible resources, embedded value, and transactions. Over the past several decades, new perspectives have emerged that have a revised logic focused on intangible resources, the co-creation of value, and relationships. The authors believe that the new perspectives are converging to form a new dominant logic for marketing, one in which service provision rather than goods is fundamental to economic exchange. The authors explore this evolving logic and the corresponding shift in perspective for marketing scholars, marketing practitioners, and marketing educators. You can download the article here: shorturl.at/cuyQR Here are three questions to help you reflect on what you’ve heard: 1, To what extent do you agree that the purpose of all marketplace transactions is for a supplier to render service to their customers? 2, Choose a company you admire. How important is service-dominant logic to their success? 3, How could your work be improved by adopting service-dominant logic principles? Contact us: [email protected] or [email protected]