ABSTRACT
Vargo and Lusch's article argues in favor of an emerging new dominant logic for marketing. This logic referred as the 'service revolution', relies on the notion that the core element in the exchange between firms and customers is service provision. The service revolution affects both macro- and microeconomic levels of our society. At macro level the growing service-based economy is changing the requirements for the workforce. This chapter addresses the driving force of this new service logic, information technology (IT). It describes why the customer equity framework fits a service-based view of the firm and summarizes its advantages as the central element of marketing strategy. The customer equity framework is an information-based, customer-driven, competitor-cognizant and financially accountable approach to marketing strategy; therefore, it is consistent with the foundational premises of the service-dominant logic. The customer relationship focus on marketing planning relies on the fact that brand equity is not equal across customers and products will inevitably change as technology develops.
