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 customer value proposition (CVP) has a critical role in communicating how a company aims to provide value to customers. Managers and scholars increasingly use CVP terminology, yet the concept remains poorly understood and implemented; relatively little research on this topic has been published, considering the vast breadth of investigations of the value concept. In response, this article offers a comprehensive review of fragmented CVP literature, highlighting the lack of a strong theoretical foundation; distinguishes CVPs from related concepts; proposes a conceptual model of the CVP that includes antecedents, consequences, and moderators, together with several research propositions; illustrates the application of the CVP concept to four contrasting companies; and advances a compelling agenda for research.

PurposeThe value proposition concept and the stakeholder perspective have received relatively little attention within Service‐Dominant (S‐D) logic. This paper sets out to explore value propositions in the context of S‐D logic, within the multiple stakeholder domains that form part of a marketing system. Its purpose is to identify how use of the value proposition concept, in this broader context, provides new insight into value creation within a value network.Design/methodology/approachThis paper explores the development of value propositions in key stakeholder market domains. A five‐step process is developed for identifying key stakeholders and co‐creating value propositions for them within a marketing system.FindingsValue propositions have a key role in co‐creation of value between stakeholders. The development of value propositions in multiple stakeholder domains can provide an important mechanism for aligning value within a marketing system.Practical implicationsStakeholder value propositions provide enhanced opportunities for value co‐creation and can assist managers in aligning value and stabilizing relationships within an organization's value network.Originality/valueThis paper considers a broader view of value through creation of value propositions for key stakeholders. An iterative framework is proposed that couples the stakeholder concept and value co‐creation.