From goods-service logic to a memory-dominant logic: Business logic evolution and application in hospitality

Earlier theories of business logics represent a shift in the value creation mindset. This study proposes a framework related to the applicability within the context of hospitality and advocates advancing the existing logic beyond value-in-use or experience to value-in-memory as a firm strategy described as memory-dominant logic (MDL). The proposed framework indicates that the range of business logic constructs represent complementary and contrasting aspects and that their applicability are likely to be dependent on the institutional context, market environment and target market characteristics. The framework uses an adapted model of experiential learning and support from the tourism, hospitality, psychology, marketing and service literatures. The MDL proposition reaffirms the evolution of value creation and underscores the potential value for the firm as well as challenges. Future research, a model of the proposed mediating and moderating relationships and practical illustrations are provided.