In 2004, Robert F. Lusch and Stephen L. Vargo published their groundbreaking article on the evolution of marketing theory and practice toward "service-dominant (S-D) logic", describing the shift from a product-centred view of markets to a service-led model. Now, in this keenly anticipated book, the authors present a thorough primer on the principles and applications of S-D logic. They describe a clear alternative to the dominant worldview of the heavily planned, production-oriented, profit-maximizing firm, presenting a coherent, organizing framework based on ten foundational premises. The foundational premises of S-D logic have much wider implications beyond marketing for the future of the firm, transcending different industries and contexts, and will provide readers with a deeper sense of why the exchange of service is the fundamental basis of all social and economic exchange. This accessible book will appeal to students, as well as to researchers and practitioners.
If you are truly interested in understanding what Marketing truly is all about, and how it is evolving from a pure "box-moving" practice to one focused exclusively on Value, then this is the book to read.
If you are a marketing executive and can read only one book on marketing (in addition to The Value Plan), this is most definitely the book to read.
Best read and referenced when you’ve already read broadly on adjacent topics like systems thinking, services, markets, and behavioural economics. Then after getting the gist of it from the first few chapters, flipping through many pages, reading the page in Wikipedia and highlighting all the diagrams, you realise the book could do with far fewer words. Not something you want to pick up as a first item.