The emergence of new market spaces: Brokerage and firm cognitive endowment

Framing within the service-dominant logic view, this paper deals with the emergence of new market spaces conceptualized as new contexts of use. This work aims to describe the emergence of a new value cocreation context from brokerage and exaptation strategies. By filling a literature gap, the paper describes why and how the service-dominant logic and brokerage strategy, i.e., a strategy brokering different cultural domains and contexts of use, and their variant exaptation, i.e., a strategy brokering a technological domain featured by a specific use with a completely different context of use, are useful for framing the emergence of a new market space. The paper's second aim is to draw the configuration of firm cognitive endowment—the T-shaped model—potentially enabling brokerage/exaptation strategies. The paper highlights the features a firm cognitive endowment should possess in terms of in-depth competencies and dynamic capabilities to trigger new and potentially valuable contexts of use.