Central to service-dominant (S-D) logic is the proposition that the customer becomes a co-creator of value. This emphasizes the development of customersupplier relationships through interaction and dialog. However, research to date suggests relatively little is known about how customers engage in the co-creation of value. In this article, the authors: explore the nature of value cocreation in the context of S-D logic; develop a conceptual framework for understanding and managing value cocreation; and utilize field-based research to illustrate practical application of the framework. This process-based framework provides a structure for customer involvement that takes account of key foundational propositions of S-D logic and places the customer explicitly at the same level of importance as the company as co-creators of value. Synthesis of diverse concepts from research on services, customer value and relationship marketing into a new process-based framework for co-creation provide new insights into managing the process of value co-creation.

In this article, the authors develop a conceptual framework for customer relationship management (CRM) that helps broaden the understanding of CRM and its role in enhancing customer value and, as a result, shareholder value. The authors explore definitional aspects of CRM, and they identify three alternative perspectives of CRM. The authors emphasize the need for a cross-functional, process-oriented approach that positions CRM at a strategic level. They identify five key cross-functional CRM processes: a strategy development process, a value creation process, a multichannel integration process, an information management process, and a performance assessment process. They develop a new conceptual framework based on these processes and explore the role and function of each element in the framework. The synthesis of the diverse concepts within the literature on CRM and relationship marketing into a single, process-based framework should provide deeper insight into achieving success with CRM strategy and implementation.

The traditional goods-dominant logic of marketing is under challenge and leading researchers are now emphasizing the new service-dominant logic (Vargo and Lusch, 2004). One of the key foundational propositions of this logic is the customer as "always being a co-creator of value" where "the brand becomes the experience" (Prahalad, 2004). In this paper, the authors examine the concept of brand relationship experience in the context of co-creation and service-dominant logic and outline a conceptual model for designing and managing the customer experience. Case study research illustrates how this model helps in the design and management of the brand relationship experience for an innovative new product.

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Co-creation offers firms and their network of actors significant opportunities for innovation, as each actor offers access to new resources through a process of resource integration. However, despite the significant advantages that co-creation can offer, there is surprisingly little research providing a strategic approach for identifying the most advantageous co-creation opportunities, especially when many possible options are available. Recently, scholars have called for research that develops tools and processes related to co-creation. This study addresses these priorities, making two contributions. First, in contrast to previous work considering co-creation more generally, or focusing on one specific form only, e.g. co-production, this paper offers a detailed and granular approach to co-creation design. A co-creation design framework is developed, which incorporates multiple design dimensions and categories that can reveal new co-creation opportunities. Second, the research extends the application of a design approach, specifically within the context of co-creative activities. The authors use field-based research with senior executives to develop a framework that includes key co-creation design elements. A morphological approach is used to explore how a lead firm can identify attractive co-creation opportunities. An innovation solution in one organization provides an illustration of how the co-creation design framework can be applied.

The concept of value and, more specifically, customer value is of increasing interest to both academics and practitioners. This paper undertakes a substantial review of past and current literature on value and categorizes this considerable body of research into nine streams of literature. Building on the emerging relationship marketing paradigm, it then proposes a framework for relationship value management. Nine core streams of value literature are identified and discussed: consumer values and consumer value; the augmented product concept; customer satisfaction and service quality; the value chain; creating and delivering superior customer value; the customer's value to the firm; customer‐perceived value; customer value and shareholder value; and relationship value. To date, the core focus of most of this literature has been on the nature of value from the perspective of the organization and its customers – the customer–supplier relationship. However, it is argued that the emergence of the relationship marketing paradigm has emphasized the role of other stakeholders in building relationships. An existing multiple stakeholder model of relationship marketing, the six markets model, is introduced and is integrated with key concepts from the value literature to produce a conceptual framework for relationship value management.

204 pp, ISBN 0 7506 0258 9, price S25.00.