I have been asked to contribute my recollections about the editorial review process for the article, “Evolving to a New Dominant Logic for Marketing” by Stephen L. (Steve) Vargo and Robert F. (Bob) Lusch, which was published in the Journal of Marketing (JM ) in 2004. This chapter offers my recollections - with the advantage of hindsight.
Ruth N. Bolton
Ruth N. Bolton
This introduction briefly reviews some of the highlights in the evolution of conceptual work on customer engagement. It discusses the origins of customer engagement, managerial questions, early academic research, how conceptualizations of customer engagement deepened, the influence of empirical work, how customer engagement is related to other constructs, and some emerging topics in customer engagement. The goal is to provide a foundation for readers to appreciate how the conceptual papers in this book extend our theoretical understanding of customer engagement.
Ruth N. Bolton and Venkatesh Shankar
Retailer pricing is a key element of retailer strategy that critically shapes retailers’ fortunes. Many retailers live and die by their pricing strategy. This chapter reviews emerging retailer pricing trends and offers guidelines for profitable pricing strategies. It begins by describing the current retailer environment, focusing on how changes in consumer demand, competition and cost over the past decade have created pricing opportunities and challenges. It then discusses how new forms of competition (from adjacent markets, discount outlets, resale stores and the sharing economy); changes in consumers’ shopping habits across different channels and touchpoints (including shopper response to increased direct-to-consumer activities by manufacturers, growth in online intermediaries and multi-channel or omnichannel retailing); and technological changes (including the pervasiveness of mobile services) affect retailer pricing. After reviewing current pricing practices, the chapter closes by offering a framework to guide retailers in developing a coherent pricing strategy.