The value proposition (VP) is foundational to business research, yet literature devoted to it remains fragmented, hindering the theoretical development and practical application of this key concept. To consolidate and unify the field, the current article presents an analysis of its conceptual and intellectual structure, which distinguishes two dominant schools of thought: a strategic school and a service school. Building on this analysis, the authors propose an integrative framework to bridge these perspectives, which in turn reveals how they can be mobilized jointly to address complex, multilevel, value co-creation dynamics. Finally, a research agenda outlines key questions and thematic priorities-particularly related to sustainability, technology, and innovation-to guide further theoretical integration and the continued evolution of VP scholarship.