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Assignment example - Finance and Accounting
Finance & Accounting
Pages 4 (1004 words)
Discussion 1 Contents Discussion 1: 3 Introduction 3 Service Dominant Logic 3 Conclusion 5 Reference 7 Discussion 1: Introduction Marketing has inherited a model from economic which provided dominant logic and was based on “exchange of goods”. The dominant logic tends to focus on transactions, embedded values and also tangible resources…
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The customers are seen as resources with which firms are able to create a solution that takes into consideration the needs of the customers and solve the issues and problems (Jacob & Rettinger, n.d). Service Dominant Logic Executing on the new perspective, the service dominant logic is a hyper active and a competitive market place. Old ways of performing things along with the entrenched habits tends to die slowly creating challenge for firms across the globe. It will not be taken as surprise if the biggest resistance or barriers occur from marketing perspectives which are built around the traditional concept of marketing mix. In many aspect marketing has failed as it had little control over the 4Ps. The concept of traditional marketing mix is not accurate for future use due to rise in competition and global change in the environment and therefore model of interaction has taken over model of separation through S-D logic (Lusch & Vargo, n.d) With S-D logic, customers has the ability to become a part of inbound marketing by way of using the competencies and skills to help produce a product which forms a part of core offerings for the customers. In such situation, the customers tend to take part on the marketing programs. ...
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