Abstract:
The purpose of writing this paper is to understand the new approaches and models related to
service marketing and how concepts like service dominant (S-D) logic is challenging the validity
of traditional marketing frameworks. It also includes a detailed comparison of Vergo and
Lusch’s Service Dominant approach and Nordic’s approach. This study also focusess on
concepts like value in use and value in exchange and how service based marketing concepts are
also applicable in the general goods based marketing practices. The paper also mentions Kotler’s
holistic approach towards service marketing in which he has given emphasis on using
combination of internal, interactive and external marketing in services related sectors. In the
second part S-D logic is discussed with respect to external factors (Global, Social and
Technological) which affect the business environment of the companies. This argument also
assists in finding answers to questions like how S-D logic addresses ethical issues in marketing
and how it is helping the advertising people in launching successful advertising campaigns. The
main recommendation of this research paper is that organizations should also give some
importance to services oriented concepts while following traditional marketing theories.
