SERVICE-DOMINANT LOGIC

Service-dominant logic arguably presents a new approach to marketing. It provides a unified approach to defining the purpose and nature of markets. The service dominant logic recognizes the important role that organizations, society, and markets play in the exchange of services. Service is typically exchanged for service meaning all firms that are in the market are service based. Additionally markets have been built around the exchange of service. Equally, all the economies of the world and societies have centered around one important factor; service. Therefore, it means that most marketing principles, logic, and theories revolve around service. Service-dominant logic presupposes that its fundamentals should be focused on instead of following service marketing that has based on good servicing or the goods dominant logic. In essence, firms will be more focused with consumers instead of being informed to consumers. The role of the supply is to provide good and services to the consumer according to the consumers preference in the process rendering services. This is a key foundation in the service dominant logic (Warnaby 2009).

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