Business-to-Business and broader marketing are increasingly influenced by the digital transformation of business, leading to the evolution of new central marketing concepts (e.g., value propositions, value co-creation, customer experiences/journeys, customer centricity, etc.). Therefore, it is not surprising that important emerging marketing concepts, such as value propositions remain ill-defined. We argue herein for the evolution/expansion of the theoretical boundaries of value propositions from largely a firm-centric communication marketing tool toward a concept representing a significant step in an actor’s judgment & decision-making processes. A framework emphasizing marketing interactions is developed that reconciles much of the emerging evidence related to goal theory, perceived value, resource sharing, value propositions and their communication, marketing ecosystems, and the value co-creation process. In the proposed framework, value propositions are re-conceptualized as a central within-subject belief about resource-sharing vis-à-vis marketing interactions within the larger process of value co-creation over time. The managerial and research implications of the proposed framework are presented and discussed.
Keywords: Value Proposition, Value Co-Creation, Digital Transformation, Judgment & Decision Making, Motivation, Goal Hierarchy