Is S-D logic a way forward or are old marketing concepts still relevant in today's changing scenario

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.