Please find the information below for week 1 paperwork. The dominant paradigm in marketing for the past decade has been service-dominant logic (SDL), the idea that organisations and consumers co-create value in an ongoing process with various points of interaction. In this week’s collaboration, you will reflect on and evaluate your own experiences with the co-creation of value, for example, personalised interactions where both you and the organisation benefitted from the exchange. To prepare for this Collaboration: Review service-dominant logic (SDL) in your notes and readings and think about situations in which you engaged in the co-creation of value. To complete this Collaboration: By Saturday (3 June 2017) For your Initial Response, in 300–500 words, address the following: Use service-dominant logic (SDL) to describe a situation in which you engaged in co-creation of value. What strategies could the marketer have used to enhance this experience for you? How would these strategies have improved your experience? As we move into Week 1 and a discussion of service dominant logic (SDL) , I thought that the following video presented by one of the co-authors of the concept, Robert Lusch, would provide each member of the class with some added perspectives to complement your readings this week Robert F. Lusch Discusses the Past, Present, and Future of Service Dominant Logic https://www.youtube.com/watch?v=tOVBSdqSk1Q

 

Discussion regarding service dominant logic

Name:

Institution:

 

Introduction

Service-dominant logic can be explained as the movement from foundational, traditional and goods dominant logic where the exchange of goods, and services, represented an exceptional case of goods. However, it is not easy to move towards a service dominant logic since it requires a substantial reorganization of the business. SDL focuses on shift or movement from the emphasis on material resources to dynamic resources. On the other hand, co-creations of values involves a win-win strategy where both the parties gain or benefits due to a particular undertaking. In the case of a relationship between a customer and a company, a customer is always a co-creator. This is paper focuses on the situation where I was engaged in co-creation of value through the use of service-dominant logic.

The situation I engaged in co-creation of value.

I engaged myself in co-value creation with Philips Company which has worked towards making sure that customers experience value or rewards by adopting the behavior of the company. Besides, does not only produce goods and services that are meant to satisfy customers but focus on sharing knowledge with stakeholders to ensure so that they can be co-creators of value. The company considers the opinions or suggestions of all stakeholders including customers and employees through research.  Philips accommodates the competencies as well as the skills and thus enhancing co-creation of value shared goods and services (Hastings, 2003). The company tries as much as possible to reduce the focus on customers during research. Customers are encouraged to discover and create value for their own good.

Philips customers and its customers have become producers of value. I have learned from the company, and it has also been able to learn from customers including myself through the opportunities that it has created (Marques & Domegan, 2011). Philips has been open to change, for instance on matters regarding the services and goods it offers. Customer’s responses have bored fruits.

I had an opportunity to participate in social marketing events sponsored by Philips Company. Such events have made it possible for the company to experience close interaction with customers and at the same time, customers experience value for the service and products offered (Marques & Domegan, 2011). For instance, the company produced unique teakettle filters and demonstrated how it works. This came after interactions with customers and was a response to the need of customers to prevent accumulation of limescale in the kettle. This offering met my needs as one of the potential customers of the organization. Besides, I uniquely experienced the benefits of the product.  However, marketers could have demonstrated the way this product works proficiently and also give a chance a customer to experience the same so ass to make the product and service more appealing.

Conclusion

Co-creation of value is an important aspect of marketing. Therefore, marketers should ensure that customers are actively the involved in creation of value through gathering information and responding to clientele’s needs. They should also maintain high ethical standards during the interaction with customers or when they are offering them services.

 

References

Marques, S. & Domegan, C. (2011). Relationship marketing and social marketing. In G.     Hastings, K Angus & C. Bryant (Eds.), The SAGE Handbook of Social     Marketing.London: SAGE Publications, pp. 44-60.

Hastings, G. (2003). Relational paradigms in social marketing. Journal of Macromarketing;     23(1): 6-15.

 

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