Summary The creation of value is the core purpose and central process of economic exchange. Traditional models of value creation focus on the firm's output and price. We present an alternative perspective, one representing the intersection of two growing streams of thought, service science and...

Service science is an emerging discipline concerned with the evolution, interaction, and reciprocal cocreation of value among service systems (Maglio and Spohrer [Maglio, P. P., J. Spohrer. 2008. Fundamentals of Service Science. <i>Journal of the Academy of Marketing Science</i> <b>36</b>(1) 18-20.]; Spohrer...

This article explores a service-dominant (S-D) logic, service-ecosystems approach to studying value cocreation and the (re)formation of service systems. We outline the central premises of S-D logic and elaborate the concept of a service ecosystem to propose a framework that focuses on resource...

Purpose – The purpose of this paper is to explore the social and cultural aspects of the context that frames service exchange to better understand how value and experience are evaluated. Design/methodology/approach – The authors apply a conceptual approach to develop and propose a framework...