Developing an Integrative Marketing Theory: Re-conceptualizing Valuation, Market Theory and Exchange
Issue:
Volume 3, Issue 2, June 2018
Pages:
5-15
Received:
14 September 2018
Accepted:
28 September 2018
Published:
23 October 2018
Abstract: Marketing specialists play a vanguard role in heralding a new perspective on exchange that prompts a re-conceptualization of valuation, marketing theory, and economic value theory. However the literature is inadequate in doing so in terms that are relevant for practitioners how the conceptualizations can be developed into a theoretical model for improving organizational and social-economic performance. This article contributes to marketing literature and to literature explaining how to improve organizational and social-economic performance by proposing a strategy by which the marketing perspective on exchange and valuation can be developed into a framework for an integrative marketing theory. That is to say that the article explains how and why marketing conceptualizations of valuation and exchange provide a source for determining the factors that apply as a multi-level and multi-dimensional approach to improving performance (i.e. increasing the performance of organizations and institutions in ways that create satisfactory and beneficial outcomes for a larger number of social stakeholders). This article is designed as an exploratory study of historical and contemporary conceptualizations of exchange, the market, and valuation as the means of collecting the necessary conceptual data for developing an integrative marketing theory. The exploratory study is the means for determining factors that can be applied as a multi-dimensional strategy for performance improvement. The conceptual data is triangulated to determine the conceptual categories that are expressed as factors that can be employed as a marketing model for satisfying the interests of stakeholders. In addition the article contributes to scholarship on marketing ethics by indicating how marketing theory increases the competitive advantage of businesses in a way that satisfies concerns regarding social responsibility.
Abstract: Marketing specialists play a vanguard role in heralding a new perspective on exchange that prompts a re-conceptualization of valuation, marketing theory, and economic value theory. However the literature is inadequate in doing so in terms that are relevant for practitioners how the conceptualizations can be developed into a theoretical model for im...
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