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The theory of the marketing firm

Foxall, Gordon R 2020. The theory of the marketing firm. Managerial and Decision Economics 41 (2) , pp. 164-184. 10.1002/mde.3047

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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.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Publisher: Wiley
ISSN: 0143-6570
Date of First Compliant Deposit: 3 June 2019
Date of Acceptance: 2 June 2019
Last Modified: 12 Feb 2020 15:44

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