A Conceptual Framework of Service Dominant (S-D) Logic: Review of literature

Several researchers over the years have made attempts to understand the nature of markets and marketing. In the process of building of any scientific discipline, researchers look for its underlying logic. With the growth of economies globally, there has been a paradigm shift from a product-based to a service- based economy which led to the evolution of marketing towards a new dominant logic, termed as Service-Dominant(S-D) logic. This paper attempts to look into the concept of S-D logic, its foundational premises, their understanding and implications. It highlights the concept of value co creation as an essence of S-D logic and indicators and dimensions of value co-creation as outlined in the literature. It emphasizes upon the role of various operant resources like technology, customers, and firms’ employees and draws important managerial implications.