Domination theory marketing
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Market dominance is a measure of the strength of a brand, product, service, or firm, relative to Dominance. For the game theory, see Strategic dominance.
Service-dominant (S-D) logic is a meta-theoretical framework for explaining value creation, through exchange, among configurations of actors. The underlying.
In marketing, the decoy effect is the phenomenon whereby consumers will tend to have a dominated option is therefore a decoy serving to increase preference for the dominating option. The decoy effect is also an example of the violation of the independence of irrelevant alternatives axiom of decision theory.
Description:The core[ edit ] At the core of S-D logic is the idea all exchanges can be viewed in terms of service-for-service exchange, the reciprocal application of resources for others' benefit Vargo and Lusch, Focus on service singular steers attention to the process, patterns, and benefits of exchange, rather than the units of output that are exchanged e. S-D logic argues that in order to create value, that is to maintain and increase wellbeing and viability, actors engage in interdependent and reciprocally beneficial service exchange Lusch and Vargo, Hence, value creation occurs in networks in which resources are exchanged among multiple actors and is therefore more accurately conceptualized as value cocreation Vargo and Lusch, , Vargo, Maglio and Akaka, Recently, S-D logic has moved toward a dynamic, systems orientation in which value cocreation is coordinated through shared institutions norms, symbols, and other heuristics , often massive-scale resource integration and service exchange processes Lusch and Vargo, , Vargo and Lusch Axioms and foundational premises[ edit ] The core ideas of S-D logic are formulated into foundational premises.
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