American Marketing Association has updated its marketing definition, including value and customer relationships in the new definition. In the present article the underpinning logic of the updated definition is analysed. It is concluded that although it still dominates the management and...

The discussion of a service-dominant logic has made the findings of decades of service marketing research a topic of interest for marketing at large. Some fundamental aspects of the logic such as value creation and its marketing implications are more complex than they have been treated as so far...