Free Marketing Dissertations - Therefore, Although Crm, And Vargo And Lusch’s ‘new Dominant Logic’, Will
Therefore, although CRM, and Vargo and Lusch’s ‘new dominant logic’, will likely have a larger effect on loyalty than traditional marketing styles, they will still affect loyalty in a similar way, but on a larger scale.
However, although Vargo and Lusch’s model does not have fundamentally different effects from those which have gone before it, the proposition that marketing is principally concerned with the co-creation of value and relationships, and linking this to a stakeholder perspective on brand value, has inspired numerous other articles and models. In particular, Jones (2005) has used this approach to develop a model for brand managers that helps them to answer the two fundamental questions asked of all brand managers: ‘Where does our brand value lie and how is this value created?’ Equally, Ekeledo and Sivakumar (2004) have used the approach to analyse the effect of e-commerce on market entry strategies, and Meuter et al used it as part of a framework to try and explain why customers decide to try Self Service Technologies (SSTs) within e-commerce, and why some SSTs are more widely accepted than others. Hence, although the ‘new dominant logic’ may not be particularly new, it has definitely contributed to the development of understanding of the marketing process, and how to connect with customers, and is rapidly becoming the dominant approach to marketing as a whole.
References:
Agustin, C. and Singh, J. (2005) Curvilinear Effects of Consumer Loyalty Determinants in Relational Exchanges. Journal of Marketing Research; Vol. 42, Issue 1, p. 96.
Bayus, B. Kim, N. and Shocker, A. (2004) Model of exchange shifts toward services. Marketing News; Vol. 38, Issue 1, p. 25.
Boulding, W. Staelin, R. Ehret, M. and Johnston, W. (2005) Customer Relationship Management Roadmap: What Is Known, Potential Pitfalls, and Where to Go. Journal of Marketing; Vol. 69, Issue 4, p. 155.
Ekeledo, I. and Sivakumar, K. (2004) The Impact of E-Commerce on Entry-Mode Strategies of Service Firms: A Conceptual Framework and Research Propositions. Journal of International Marketing; Vol. 12, Issue 4, p. 46.
Jones, R. (2005) Finding sources of brand value: Developing a stakeholder model of brand equity. Journal of Brand Management; Vol. 13, Issue 1, p. 10.
Meuter, M. Bitner, M. Ostrom, A. L. and Brown, S (2005) Choosing Among Alternative Service Delivery Modes: An Investigation of Customer Trial of Self-Service Technologies. Journal of Marketing; Vol. 69, Issue 2, p. 61.
Payne, A. and Frow, P. (2005) A Strategic Framework for Customer Relationship Management. Journal of Marketing; Vol. 69, Issue 4, p. 167.
Rogers, M. (2005) Customer Strategy: Observations from the Trenches Journal of Marketing, Vol. 69, Issue 4, p. 262.
Vargo, S. L. and Lusch, R. F. (2004) Evolving to a New Dominant Logic. Journal of Marketing; Vol. 68, Issue 1, p. 1.
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