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The theory of the marketing firm

The theory of the marketing firm

Title: The theory of the marketing firm
Author: Foxall, Gordon   orcid.org/0000-0002-3572-6456
Date: 2019-07-05
Language: English
Scope: 164-184
University/Institute: Háskólinn í Reykjavík
Reykjavik University
School: Viðskiptadeild (HR)
School of Business (RU)
Series: Managerial and Decision Economics;41(2)
ISSN: 0143-6570
1099-1468 (eISSN)
DOI: 10.1002/mde.3047
Subject: Management of Technology and Innovation; Management Science and Operations Research; Strategy and Management; Business and International Management; Behavior; Entrepreneurship; Costs; Stjórnun; Stjórnunarhættir; Markaðsfræði; Atferli; Frumkvöðlafræði; Kostnaður
URI: https://hdl.handle.net/20.500.11815/2462

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Foxall, G. R. (2020). The theory of the marketing firm. Managerial and Decision Economics, 41(2), 164–184. https://doi.org/10.1002/mde.3047


The theory of the marketing firm locates the rationale of the modern business enterprise that lies in its responding profitably to the imperatives of marketing orientation. Economic theories of the firm generally fail to recognize these imperatives, enhanced consumer choice and sophistication, which entail marketing orientation as the rationale of the firm. The paper propose a competence theory of the firm as a metacontingency and examines the bilateral contingencies by which firms link to their consumerates, which indicate their capacities for customer orientation. The marketing firm emerges as a means of encapsulating entrepreneurship, economizing on transaction costs, and enabling the management of marketing specialization.


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