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SDL-VALUE & VALUE CO-CREATION - Essay Example

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SDL-VALUE & VALUE CO-CREATION

147-149). Consequently, the article explores the virtues of Aristotle’s stand on exchange and use value differences. Indeed, the article is based on claims and comments made by other prominent economic scholars such as Adam smith. In these references, the authors concentrate on the domain of goods-dominant logic. This presence is intended to compare and contrast the two logics taking into reference the business concept of Coca Cola Company. Service Dominant Concept The service-dominant model is based on the aspect of interdependence between consumers and producers. Presumably, the system is based on direct producer-consumer observations. It is sufficiently important that the relationship or transfer of value between producers and consumers have different forms of interpretation. Indeed, different interpretations depend on the corresponding discipline or field of study (Vargo, Maglio, & Akaka, 2009, p. 33-35). Apparently, the fundamentals of commerce are the underlying factors that streamline the aspect of utility and production. Thus, the different models translate to the fundamental principles of production and consumption as explained in consumer science and other related disciplines. Consequently, the article approaches the issue with the intentions of unearthing any underlying associations. Value In the view of service-dominant value, value is considered to be characterized by the total effects of both the producers and consumers. An illustration of this is that, goods are valued after reaching a particular point in the process of consumption. Therefore, the consumers confer the element of value to goods when these prove to be effective in their use. At this point, it is clear that there is a relationship between the aspect of value and the process of consumption (Vargo, Maglio, & Akaka, 2009, p. 35-38). Therefore, the aspect of value is best explained when consumption is put into consideration, since these two affect each other. The value of goods therefore, depends on how satisfactory they are to the consumer. This is the major differentiating factor between goods-dominant perspective and the service-dominant value perspective. For instance, Coca Cola would be interested in preparing and delivering Coca Cola drinks as a product in goods dominant logic. However, in service dominant logic, Coca Cola would be interested in synergising customer satisfaction with factors of production. Goods Dominant Concept In the goods-dominant value, value is attached to the transfer of goods to the consumers from the producers. In this perspective, the more goods are transferred between producers and consumers, the higher the value. On the other hand, the service-dominant value draws from different views and approaches (Vargo, Maglio, & Akaka, 2008, p. 147-149). In this case, to facilitate the transfer of goods between producers and consumers, the consumers must make their payments for the goods. This is meant to ensure the continuity of the value chain, so that consumers can come back and get more goods at a value. In the context of Coca Cola Company, service in service dominant logic, is the application of competences in terms of knowledge and skills in all factors of production aimed at providing refreshment service to the consumers. The issue of productive and non-productive ...Show more

Summary

SDL-VALUE & VALUE CO-CREATION By Institution Date Table of Contents Service Dominant Concept 3 Value 4 Goods Dominant Concept 4 Theoretical Foundation of the Article 6 A different Perspective 7 Smith’s Proposition 10 Conclusion 11 Works Cited 12 Introduction Vargo, Maglio, and Akaka (2008), best analyze the relationship between values of goods-dominant and service-dominant (SD) logic…
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