Towards A Value-Dominant Logic of Marketing
Inspired by Vargo & Lusch’s Service-Dominant Logic (SDL) and relying on the Austrian School’s individualism and subjectivism, we use knowledge from economics to better support the discussion of the primary topic of Marketing: that of value creation. Specifically, we draft a Value-Dominant Logic....
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Instituto Mises Brasil
2019-11-01
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doaj-f68f1633cdaa4f6298c03e42c25044932020-11-25T00:51:39ZporInstituto Mises BrasilMises2318-08112594-91872019-11-017310.30800/mises.2019.v7.12401240Towards A Value-Dominant Logic of MarketingHunter HastingsFernando Antonio Monteiro Christoph D´´´AndreaPer BylundInspired by Vargo & Lusch’s Service-Dominant Logic (SDL) and relying on the Austrian School’s individualism and subjectivism, we use knowledge from economics to better support the discussion of the primary topic of Marketing: that of value creation. Specifically, we draft a Value-Dominant Logic. We provide ten foundational premises stemming from the recognition that value is subjective and, consequently, cannot be created by entrepreneurs or firms. Entrepreneurs and firms propose value, but subjective value can only be perceived, created and thus experienced in the individual consumer’s mind. By adopting the perspective that logically follows from this understanding, the disciplines of management and marketing will be better able to narrow the uncertainties of the market process, and entrepreneurs can make better decisions about how to help consumers overcome felt uneasiness by adopting their proposed solutions.https://revistamises.org.br/misesjournal/article/view/1240value-dominant logicvaluesubjectivismmarketingaustrian economicsstrategic marketingservice-dominant logic |
collection |
DOAJ |
language |
Portuguese |
format |
Article |
sources |
DOAJ |
author |
Hunter Hastings Fernando Antonio Monteiro Christoph D´´´Andrea Per Bylund |
spellingShingle |
Hunter Hastings Fernando Antonio Monteiro Christoph D´´´Andrea Per Bylund Towards A Value-Dominant Logic of Marketing Mises value-dominant logic value subjectivism marketing austrian economics strategic marketing service-dominant logic |
author_facet |
Hunter Hastings Fernando Antonio Monteiro Christoph D´´´Andrea Per Bylund |
author_sort |
Hunter Hastings |
title |
Towards A Value-Dominant Logic of Marketing |
title_short |
Towards A Value-Dominant Logic of Marketing |
title_full |
Towards A Value-Dominant Logic of Marketing |
title_fullStr |
Towards A Value-Dominant Logic of Marketing |
title_full_unstemmed |
Towards A Value-Dominant Logic of Marketing |
title_sort |
towards a value-dominant logic of marketing |
publisher |
Instituto Mises Brasil |
series |
Mises |
issn |
2318-0811 2594-9187 |
publishDate |
2019-11-01 |
description |
Inspired by Vargo & Lusch’s Service-Dominant Logic (SDL) and relying on the Austrian School’s individualism and subjectivism, we use knowledge from economics to better support the discussion of the primary topic of Marketing: that of value creation. Specifically, we draft a Value-Dominant Logic. We provide ten foundational premises stemming from the recognition that value is subjective and, consequently, cannot be created by entrepreneurs or firms. Entrepreneurs and firms propose value, but subjective value can only be perceived, created and thus experienced in the individual consumer’s mind. By adopting the perspective that logically follows from this understanding, the disciplines of management and marketing will be better able to narrow the uncertainties of the market process, and entrepreneurs can make better decisions about how to help consumers overcome felt uneasiness by adopting their proposed solutions. |
topic |
value-dominant logic value subjectivism marketing austrian economics strategic marketing service-dominant logic |
url |
https://revistamises.org.br/misesjournal/article/view/1240 |
work_keys_str_mv |
AT hunterhastings towardsavaluedominantlogicofmarketing AT fernandoantoniomonteirochristophdandrea towardsavaluedominantlogicofmarketing AT perbylund towardsavaluedominantlogicofmarketing |
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