Key Foundational Premises

In 2011 Vargo and Lusch’s presentation states that there was never a transition between the Goods and Service economies and thinking this “reflects a flawed understanding on the market” (Vargo and Lusch 2011). The key foundational premises in this lecture are the below:

“FP1

Service is the fundamental basis of exchange - the application of operant resources (knowledge / skills) service exchanged for service - operant

FP6

The customer is always a co-creation of value – implies value creation is interactional

FP9 All economic and social actors are resource integrators – Implies the context of value creation is networks of networks (resource-integrators)

FP10

Value is always uniquely and phenomenological determined by the beneficiary – value is idiosyncratic, experiential, contextual and meaning laden” (Vargo and Lusch 2011).

Here you can see how Vargo and Lusch’s development of Service Dominant Logic focused more on a 2-way exchange of operant resources as a means for co creation as opposed to a 1-way deliverance of operant resources running alongside the need for co creation. However, Dino Snores doesn’t entirely support this premise.  Although there is an exchange of operant service, it is predominantly one way as the event is for all intensive purposes a showcase of what the Natural History Museum has to offer.

Despite this, it still confirms with the second point FP6, as the whole night is interactional based. Examples of this includes interacting with the exhibits and use of knowledge learnt throughout the night. Without this interaction, I personally think the events value would have decreased, not only because you are assisting to make your own enjoyment but the operant skills that have been passed on become more useful and thus, more valuable. The combination of these 2 points I think is what helps to solidify the legitimacy of FP10 with exactly what I’ve just described from the Dino Snores event.