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Formalizing service-dominant logic as a general theory of markets: taking stock and moving forward

Author

Listed:
  • Melissa Archpru Akaka

    (University of Denver)

  • Kaisa Koskela-Huotari

    (Stockholm School of Economics)

  • Stephen L. Vargo

    (University of Hawai’i at Manoa)

Abstract

Advancement of the marketing discipline requires a marketing-based, general theory of markets. However, most academic marketing is developed from normative theories of economics and direct application of psychological and sociological theories. Indigenous marketing theories about markets are rare but can increase the relevance of marketing scholarship. Although theories are never fully finalized, theoretical formalizing processes can establish a general framework for theory development on markets. The aim of this paper is to provide a conceptual base for a general theory of markets by explicating the ongoing progression toward formalization of service-dominant (S-D) logic. We outline a recursive, cocreative process of theory formalization to take stock of the status of S-D logic’s development so far—what has been done and what we know and don’t know about markets. We propose specific areas of inquiry and research directions for moving forward in developing a general theory of markets that is indigenous to marketing.

Suggested Citation

  • Melissa Archpru Akaka & Kaisa Koskela-Huotari & Stephen L. Vargo, 2021. "Formalizing service-dominant logic as a general theory of markets: taking stock and moving forward," AMS Review, Springer;Academy of Marketing Science, vol. 11(3), pages 375-389, December.
    • Handle: RePEc:spr:amsrev:v:11:y:2021:i:3:d:10.1007_s13162-021-00214-y
    DOI: 10.1007/s13162-021-00214-y
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    7. Rajan Varadarajan, 2022. "A general theory of marketing: Conceivable, elusive, or illusive," AMS Review, Springer;Academy of Marketing Science, vol. 12(3), pages 177-183, December.
    8. Sreedhar Madhavaram & Hunter N. Hatfield, 2022. "Continuing the manifesto conversation: Toward building a renewal capability for the marketing discipline," AMS Review, Springer;Academy of Marketing Science, vol. 12(3), pages 188-195, December.
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    10. Helkkula, Anu & Arnould, Eric J., 2022. "Using neo-animism to revisit actors for Sustainable Development Goals (SDGs) in S-D logic," Journal of Business Research, Elsevier, vol. 149(C), pages 860-868.

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