Market shaping
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Market shaping considers markets as processes of constant change in which the actions of different actors intentionally and unintentionally shape markets.[1] Drawing on theories and concepts from marketing, complexity science, economic sociology and anthropology, market shaping questions the classical economic view of markets as pre-existing arenas of competition and instead considers markets as socially constructed complex adaptive systems that are able to take and retain form.[2][3][4]
Market shaping as a strategy[edit]
Market shaping as a strategy represents a strategic approach in which a focal market actor actively attempts to influence market structures and market behaviors to their favor.[5][6][7]
Flaig et al. [1] developed a typology of four market shaping strategies that can result in different market outcomes:
Offensive market shaping strategies[edit]
Market widening - Focuses on market modifications that enable the inclusion of additional market actors and market activities favoring the market-widening firm.
Market disruption - Induces such high levels of market change resulting into the creation of a new market.
Defensive market shaping strategies[edit]
Market maintenance - Focuses on stabilizing and reinforcing a current market form pursuing the goal of market resilience.
Market reduction - Aims at reducing the number of interfering market actors and market activities in order to consolidate and increase market power.
Market shaping as a process[edit]
Market shaping as a process is considered to be constituted by three overarching market practices that shape and reshape markets.[8] In line with the view of markets as continous processes of change, market practices are defined as all activities that contribute to the existence of markets. These market practices focus on exchange, representational and normalizing practices.
Exchange practices - the explicit acitivities involving the actual economic exchange
Representational practices - activities that represent economic exchanges as markets
Normalizing practices - activities that contribute to establish normative objectives for actors, e.g. how a market or/its actors should be re(shaped)
References[edit]
- ↑ 1.0 1.1 Flaig, Alexander; Kindström, Daniel; Ottosson, Mikael (2021-07-01). "Market-shaping strategies: A conceptual framework for generating market outcomes". Industrial Marketing Management. 96: 254–266. doi:10.1016/j.indmarman.2021.06.004. ISSN 0019-8501.
- ↑ Kjellberg, Hans; Azimont, Frank; Reid, Emma (2015-01-01). "Market innovation processes: Balancing stability and change". Industrial Marketing Management. 44: 4–12. doi:10.1016/j.indmarman.2014.10.002. ISSN 0019-8501.
- ↑ Nenonen, Suvi; Kjellberg, Hans; Pels, Jaqueline; Cheung, Lilliemay; Lindeman, Sara; Mele, Cristina; Sajtos, Laszlo; Storbacka, Kaj (2014-09-01). "A new perspective on market dynamics: Market plasticity and the stability–fluidity dialectics". Marketing Theory. 14 (3): 269–289. doi:10.1177/1470593114534342. ISSN 1470-5931.
- ↑ Johanson, Jan; Vahlne, Jan-Erik (2011-08-01). "Markets as networks: implications for strategy-making". Journal of the Academy of Marketing Science. 39 (4): 484–491. doi:10.1007/s11747-010-0235-0. ISSN 1552-7824.
- ↑ Nenonen, Suvi; Storbacka, Kaj (2020-07-01). "Don't adapt, shape! Use the crisis to shape your minimum viable system – And the wider market". Industrial Marketing Management. 88: 265–271. doi:10.1016/j.indmarman.2020.05.022. ISSN 0019-8501.
- ↑ Jaworski, Bernard; Kohli, Ajay K.; Sahay, Arvind (2000-12-01). "Market-driven versus driving markets". Journal of the Academy of Marketing Science. 28 (1): 45–54. doi:10.1177/0092070300281005. ISSN 1552-7824.
- ↑ Maciel, Andre F.; Fischer, Eileen (2020-09-01). "Collaborative Market Driving: How Peer Firms Can Develop Markets Through Collective Action". Journal of Marketing. 84 (5): 41–59. doi:10.1177/0022242920917982. ISSN 0022-2429.
- ↑ Kjellberg, Hans; Helgesson, Claes-Fredrik (2006-10-01). "Multiple versions of markets: Multiplicity and performativity in market practice". Industrial Marketing Management. IMP 2005: Dealing with Dualities. 35 (7): 839–855. doi:10.1016/j.indmarman.2006.05.011. ISSN 0019-8501.
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