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The Marketing Firm, Volume I

Recent Theoretical and Empirical Developments

  • 2025
  • Buch
Herausgegeben von
Valdimar Sigurdsson
Gordon R. Foxall
Verlag
Springer Nature Switzerland
Enthalten in
Springer Professional "Wirtschaft+Technik"
Springer Professional "Wirtschaft"
insite
SUCHEN

Über dieses Buch

Dieses Buch stellt eine fortgeschrittene Untersuchung der Theorie der Marketingfirma (TMF) dar und bietet eine multidisziplinäre Analyse, wie Unternehmen Verbraucher durch marketingorientierte Strategien einbinden. Er baut auf früheren theoretischen Grundlagen auf und berücksichtigt empirische Studien in Sektoren wie E-Commerce, Luftfahrt, Einzelhandel und Kosmetik. Band I umfasst neun konzeptionelle und empirische Kapitel, in denen die strategischen Reaktionen von Marketingunternehmen auf das Konsumverhalten anhand von TMF veranschaulicht werden. Zu den Themen gehören Co-Creation, Social-Media-Strategie, Online-Rezensionsanalyse und Leistungskennzahlen von Unternehmen. In den Kapiteln werden bilaterale Eventualitäten, Kundenorientierung und Verstärkungsmuster anhand der Verhaltensökonomie untersucht. Dieser Band wurde sowohl für Forscher als auch für Praktiker konzipiert und stellt eine rigorose, aber dennoch zugängliche Ressource zum Verständnis der Funktionsweise von Marketingunternehmen in verbraucherorientierten Umgebungen dar. Es spricht Wissenschaftler aus den Bereichen Marketing, Verhaltensökonomie und Management sowie Fachleute an, die verstehen wollen, wie Kundeninteraktionen das Verhalten und die Leistung von Unternehmen beeinflussen. Das Buch vertieft den interdisziplinären Dialog über Marketingtheorie, Strategie und empirische Anwendung.
Mit KI übersetzt

Inhaltsverzeichnis

Frontmatter
1. Theoretical Insights and Empirical Progression Within the Theory of the Marketing Firm: An Interdisciplinary Approach
Abstract
The Theory of the Marketing Firm (TMF) posits a paradigm shift in understanding the raison d’être of contemporary business enterprises, emphasizing a marketing-oriented approach as pivotal for profitability and sustainability. This perspective diverges from traditional economic theories, which often marginalize the role of consumer choice and sophistication, thereby underestimating the critical importance of a marketing-centric management philosophy. TMF, as initially articulated by Foxall (1999) and subsequently expanded and augmented (Foxall, 2021; Vella & Foxall, 2011), situates firms within an economy where structural imperatives favour a marketing-centric management philosophy, asserting that the primary function of these entities is to devise and implement effective marketing strategies. This theoretical framework transcends the transaction cost analysis of Coase (1937) and Williamson (1975, 1985) and the production system dynamics proposed by Austrian economists, advocating for an economic behavioural study approach that marries psychological insights with economic principles to foster a comprehensive understanding of economic behaviour from an interdisciplinary standpoint.
Valdimar Sigurdsson, Gordon R. Foxall
2. The Theory of the Marketing Firm Comes of Age
Abstract
The theory of the marketing firm locates the rationale of the modern business enterprise in its responding profitably to the imperatives of marketing-orientation. Economic theories of the firm generally fail to recognise these imperatives, enhanced consumer choice and sophistication, which entail marketing-orientation as the rationale of the firm. The chapter proposes 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, economising on transaction costs, and enabling the management of marketing specialisation.
Gordon R. Foxall
3. Developing the E-commerce Sector for the Fishery Industry: What Business Are We Really in?
Abstract
In this study, we use the theory of the marketing firm to explain marketing relationships between consumers and firms selling fish in the context of developing the e-commerce sector for the fishery industry. We use a unique dataset composed of quantitative and qualitative data to provide a behavioural economic analysis and interpretation. The results reveal interdependent managerial and consumer behavioural relationships indicating the presence of bilateral contingencies. The results also provide some indication of the theory of transaction cost, where cost-intensive activities are likely to be internalised within marketing firms selling fish.
Mohammed Hussen Alemu, Valdimar Sigurdsson, Asle Fagerstrøm, Gordon R. Foxall
4. The Marketing Firm: Retailer and Consumer Contingencies
Abstract
Efficiency has emerged as an important consumer value and thus has increased the importance of the in-store search as one facet of consumer transaction costs. This chapter contributes to the development of a marketing theory of the firm by analysing the consumers’ in-store efficiency ratios and the retailers’ natural sources of resistance to offer efficiency to all of their customers. We propose new behavioural metrics for consumer transaction costs. Our data from the behavioural tracking of 497 complete shopping trips reveal more transaction costs for quick shopping trips than for regular shopping trips, which demonstrates friction between retail and consumer transaction costs for quick trips.
Nils Magne Larsen, Valdimar Sigurdsson, Jørgen Breivik, Asle Fagerstrøm, Gordon R. Foxall
5. The Marketing Firm and Co-creation: An Empirical Study of Marketer and Customer’s Co-creation Process
Abstract
This study empirically investigates the marketer and customer’s co-creation process within the context of the marketing firm. Based on principles from bilateral contingencies, findings from a conjoint study (n = 98) indicate that utilitarian and informational reinforcing consequences from the marketer have a stronger impact on customers’ co-creation behaviour relative to informational reinforcing consequences from other customers. Consequently, analysing the impact of important reinforcing contingencies through the lens of bilateral contingencies expands our understanding of how and why co-creation outcomes might occur. Also, a good co-creation process may increase the business companies’ research and intelligence, and, as a consequence, strengthen their competitiveness.
Asle Fagerstrøm, Liv Marie Bendheim, Valdimar Sigurdsson, Sanchit Pawar, Gordon R. Foxall
6. The Marketing Firm and Co-creation: The Case of Co-creation by LEGO™
Abstract
This chapter discusses the marketer and customer’s co-creation process within the context of bilateral contingencies. Bilateral contingencies occur when the marketers’ behaviour is reinforced (and/or punished) by the customers’ behaviour, while the behaviour of the customers is reinforced (and/or punished) by the marketers’ actions. Using the example of the LEGO community, we discuss how the marketers in the organisation can respond to behaviours resulting from co-creational customer-customer exchanges. This chapter fills the knowledge gap by presenting a behaviour analysis framework (TMF) for the empirical measurement of the co-creation process.
Asle Fagerstrøm, Liv Marie Bendheim, Valdimar Sigurdsson, Gordon R. Foxall, Sanchit Pawar
7. The Relationship Between the Firm’s Social Media Strategy and the Consumers’ Engagement Behaviour in Aviation
Abstract
Social media platforms constitute a new frontline for brands to build relationships with their customers. Nevertheless, the literature on social media engagement behaviour is unidimensional, as it focuses on customer engagement while neglecting the customer’s influence on managerial decisions. The current chapter goes a step further by applying the Theory of the Marketing Firm. We investigated consumer-firm bilateral contingencies through three studies. The first study captures up to 60% of the variance in consumer responses given on Icelandair’s Facebook page. The second study shows how customers engage with Icelandair’s social media platforms. The third study illustrates the firm’s social media strategy from a managerial perspective.
Valdimar Sigurdsson, Nils Magne Larsen, Arna Dogg Sigfusdottir, Asle Fagerstrøm, Mohammed Hussen Alemu, Michal Folwarczny, Gordon R. Foxall
8. Exploring Customer Online Reviews for New Product Development: The Case of Identifying Reinforcers in the Cosmetic Industry
Abstract
This study analyses online customer reviews in order to investigate customers’ preferences regarding cosmetic products. Based on the marketing firm theory, this research explores the possibility of enhancing the bilateral contingent relationships between the customer and the marketing firm within the cosmetics domain. Hence, this study applies market-search concepts by extracting customer reviews and employing text analytics to identify reinforcers and factors in cosmetic products that customers are expecting and their sentiments towards them. Our results suggest that some reinforcers are shared among all customers, but some vary among the different customer segments based on their age and skin tone.
Moutaz Haddara, Jenny Hsieh, Asle Fagerstrøm, Niklas Eriksson, Valdimar Sigurdsson
9. When Individuals Behave as Marketing Firms: Probability Discounting and Reputation in Peer-to-Peer Markets
Abstract
Reputation systems in peer-to-peer markets can shed light on how individuals who operate in such markets manage both the consumer behaviour setting scope and reinforcers, thus behaving similarly to marketing firms. Based upon probability discounting framework, this chapter investigated the influence of reputation on subjective values and willingness to pay. Renting prices of 386 properties listed on Airbnb in two cities in Brazil were analysed. Results indicated that reputation alone does not generate significant differences in average prices per guest, although it has an indirect effect that enhances the influence of other variables on prices, particularly the number of amenities.
Andressa A. Bonafé-Pontes, Jorge M. Oliveira-Castro, Gordon R. Foxall
10. Marketing Firm Performance: When Does Marketing Lead to Financial Gains?
Abstract
The research investigated whether economic context and prior financial reinforcement/punishment moderate the effectiveness of marketing behaviour in generating gains for the firm. An experiment with a longitudinal design was conducted using 1759 companies from 2000 to 2017. The results demonstrate that marketing is effective in gaining market share when the country’s economy is growing. In contrast, it increases return on assets and Tobin’s Q when the country’s economy is in recession, this increase being maximised when the company was financially reinforced. The study helps explain the circumstances in which marketing activities boost firms’ financial gains.
Rafael Barreiros Porto, Gordon R. Foxall
Backmatter
Titel
The Marketing Firm, Volume I
Herausgegeben von
Valdimar Sigurdsson
Gordon R. Foxall
Copyright-Jahr
2025
Electronic ISBN
978-3-031-91595-6
Print ISBN
978-3-031-91594-9
DOI
https://doi.org/10.1007/978-3-031-91595-6

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