Marketing inherited a model of exchange from economics, which had a dominant logic based on the exchange of “goods,” which usually are manufactured output The dominant logic focused on tangible resources, embedded value, and transactions Over the past several decades, new perspectives have emerged that have a revised logic focused on intangible resources, the cocreation of value, and relationships The authors believe that the new perspectives are converging to form a new dominant logic for marketing, one in which service provision rather than goods is fundamental to economic exchange The authors explore this evolving logic and the corresponding shift in perspective for marketing scholars, marketing practitioners, and marketing educators

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Evolving to a New Dominant Logic for Marketing

Marketing academicians and practitioners have been observing for more than three decades that business performance is affected by market orientation, yet to date there has been no valid measure of ...

https://www.jstor.org/stable/pdfplus/1251757.pdf

The Effect of a Market Orientation on Business Profitability

This research addresses three questions: (1) Why are some organizations more market-oriented than others? (2) What effect does a market orientation have on employees and business performance? (3) D...

Market orientation: Antecedents and consequences

Considerable progress has been made in identifying market-driven businesses, understanding what they do, and measuring the bottom-line consequences of their orientation to their markets. The next c...

/pdf/the-capabilities-of-market-driven-organizations-152hbwt1bs.pdf

The capabilities of market-driven organizations

A review of the literature suggests that few studies use formative indicator measurement models, even though they should. Therefore, the purpose of this research is to (a) discuss the distinction between formative and reflective measurement models, (b) develop a set of conceptual criteria that can be used to determine whether a construct should be modeled as having formative or reflective indicators, (c) review the marketing literature to obtain an estimate of the extent of measurement model misspecification in the field, (d) estimate the extent to which measurement model misspecification biases estimates of the relationships between constructs using a Monte Carlo simulation, and (e) provide recommendations for modeling formative indicator constructs.

/pdf/a-critical-review-of-construct-indicators-and-measurement-1nsn8e58az.pdf

A Critical Review of Construct Indicators and Measurement Model Misspecification in Marketing and Consumer Research

The literature reflects remarkably little effort to develop a framework for understanding the implementation of the marketing concept. The authors synthesize extant knowledge on the subject and pro...

Market orientation: The construct, research propositions, and managerial implications.

In recent years, academic and practitioner interest has focused on market orientation and factors that engender this orientation in organizations. However, much less attention has been devoted to d...

/pdf/markor-a-measure-of-market-orientation-1lfwicxpmx.pdf

Markor: A Measure of Market Orientation:

This study draws on depth interviews with 49 managers in customer firms and 55 managers in supplier firms and on discussions with 21 managers in two focus groups to propose a new way of thinking about customer solutions. Extant literature and suppliers interviewed for this study view a solution as a customized and integrated combination of goods and services for meeting a customer's business needs. In contrast, customers view a solution as a set of customer–supplier relational processes comprising (1) customer requirements definition, (2) customization and integration of goods and/or services and (3) their deployment, and (4) postdeployment customer support, all of which are aimed at meeting customers' business needs. The relational process view can help suppliers deliver more effective solutions at profitable prices. In addition, field research suggests that the effectiveness of a solution depends not only on supplier variables but also on several customer variables. Supplier variables include c...

https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=2054&context=lkcsb_research

Rethinking Customer Solutions: From Product Bundles to Relational Processes

The purpose of this article is to discuss two approaches to being market oriented—a market-driven approach and a driving-markets approach.Market driven refers to a business orientation that is based on understanding and reacting to the preferences and behaviors of players within a given market structure.Driving markets, on the other hand, implies influencing the structure of the market and/or the behavior(s) of market players in a direction that enhances the competitive position of the business. There are three generic ways of changing the structure of a market: (1) eliminating players in a market (deconstruction approach), (2) building a new or modified set of players in a market (construction approach), and (3) changing the functions performed by players (functional modification approach). Market behavior can be modified directly or, alternatively, indirectly by changing the mind-set of market players (e.g., customers, competitors, and other stakeholders).

Ajay K. Kohli

Papers

Market orientation: Antecedents and consequences

Market orientation: The construct, research propositions, and managerial implications.

Markor: A Measure of Market Orientation:

Rethinking Customer Solutions: From Product Bundles to Relational Processes

Market-Driven Versus Driving Markets: