Value creation in the market ecosystem: A Service-Dominant logic perspective

Georgia Katsifaraki

University of Cyprus Working Papers in Economics from University of Cyprus Department of Economics

Abstract: A conceptual platform for value creation in market ecosystems is proposed in this study, which extends the Value-based Strategy view and models market interactions under the Service-Dominant logic. The platform helps addressing a number of emerging questions, such as: (i) how stakeholders offering concrete value propositions interact with stakeholders bearing unique value dispositions in a Service-Dominant prevailing market setting, i.e. a service ecosystem, and (ii) how firms position themselves favorably toward rivals through exploiting emerging Service-Dominant market insights. We posit that the firm’s co-creation capacity and the customer’s willingness to co-create are fundamental towards helping firms differentiate themselves from competition. On that basis, we identify four value co-creation strategies which can lead to competitive advantage. To demonstrate the applicability of our platform, we then develop a set of games and emphasize on its business relevance through a case study. The macro insights gained from the value co-creation phenomenon in a market transaction within a service ecosystem are highlighted throughout.

Keywords: value co-creation; Service-Dominant logic; Value-based strategy; service ecosystem; value propositions; cooperative game theory (search for similar items in EconPapers)
Pages: 60 pages
Date: 2018-10
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Persistent link: https://EconPapers.repec.org/RePEc:ucy:cypeua:14-2018

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