The Austrian view and value co-creation process in solution-oriented firms: A seven stage, “solution prototyping” framework

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Issue Date
2019-12-18
Authors
Plouffe, Christopher R.
Nagel, Duane M.
Bonney, Leff
Hochstein, Bryan W.
Salas, Jim
Advisor
Citation

Christopher R. Plouffe, Duane Nagel, Leff Bonney, Bryan Hochstein & Jim Salas (2019) The Austrian view and value co-creation process in solution-oriented firms: A seven stage, “solution prototyping” framework, Journal of Marketing Theory and Practice

Abstract

We develop a conceptual framework that examines the behavior of the solutions-oriented-firm from initial solutions generation, through the “sale” and delivery to an initial customer, and its potential dissemination to the broader marketplace as a more standardized product/service offering. Particular attention is paid to the emerging discussion of value co-creation and Service-Dominant logic. Key tenets of the Austrian School of Economics are leveraged to identify how the selling firm, sales employee, and buying firm co-create value, and the “solution” itself. Thus, providing a deeper understanding of the “end-to-end” value chain of activities and drivers of firm performance.

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