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 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. Vargo and Morgan (2005) provide a historical review of economic and philosophical thought that led to the dominant logic surround goods or manufactured output.

Service-Dominant Logic publications:

On value and value co-creation: A service systems perspective
Toward a conceptual foundation for service science