It is vital to understand servitization from the perspective of cooperation among actors working to co-create value for a service. Thus, this study uses service-dominant to characterize an integrated theory of servitization, especially by including the co-creation mechanism–resource investment relationship in the servitization process. This study incorporates the theories of servitization and service-dominant logic to propose a theoretical model of servitization. A conceptual model was developed wherein servitization comprises three components: actors, mechanisms, and resources. These components are used to build a theoretical model that is divided into phases of implementation. The model uses mechanisms of interaction between actors and their respective resources as crucial components in the efficient implementation of servitization. This study is the first to consider servitization as three components and establish a model. The model affirms that the mechanisms and resources–present in all phases of implementation—are important to the implementation of servitization.