Four-Stage Model of Value Creation for Sustainability-Oriented Marketing: En Route to Participatory Marketing

Abstract

Hitherto, the pure marketing concept has focused on creating value for firms and their customers in a manner consistent with the Dominant Social Paradigm (DSP). Nevertheless, as the sustainability paradigm established stronger roots over the last few decades, the marketing discipline may benefit by creating value from a broader perspective to stimulate shared prosperity and wealth for society at large. This paper proposes a four-stage model of value creation that classifies sustainability-oriented marketing approaches guided by different economic paradigms and different levels of involvement. This commentary provides a framework for organizations to reframe their marketing approach. The goal is to gravitate from a firm-centric approach to a society-centric approach to enhance societal well-being.