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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: Samfélagssvið (HR)
School of Social Sciences (RU)
Department: Viðskiptadeild (HR)
Department of Business Administration (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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Citation:

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

Abstract:

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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This is an open access article under the terms of the Creative Commons Attribution‐NonCommercial‐NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non‐commercial and no modifications or adaptations are made.

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