Marketization Theory and Evidence from Emerging Economies
This book critically examines marketization: a phenomenon by which market processes are institutionalized and marketing increasingly pervades all areas of our everyday life. It presents a number of theories, frameworks and empirical studies highlighting h
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Marketization Theory and Evidence from Emerging Economies
Marketization
Himadri Roy Chaudhuri Russell W. Belk •
Editors
Marketization Theory and Evidence from Emerging Economies
123
Editors Himadri Roy Chaudhuri Marketing Department XLRI—Xavier School of Management Jamshedpur, Jharkhand, India
Russell W. Belk Marketing Department Schulich School of Business York University Toronto, ON, Canada
ISBN 978-981-15-4513-9 ISBN 978-981-15-4514-6 https://doi.org/10.1007/978-981-15-4514-6
(eBook)
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To James W. Gentry —Himadri Roy Chaudhuri
Foreword: Markets, Marketing, And Marketization
The concept of market occupies an enigmatic place in marketing scholarship. While marketing happens within a market, the field’s scholarly attention falls more on understanding the nature and implications of exchange relationships rather than the context where they take place. According to the American Marketing Association, marketing refers to “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have values for customers, clients, partners, and society at large.” Following this prevailing view, research in marketing tends to focus on studying how marketers generate value and how such value is perceived by its target(s). A vast amount of the literature looks at firm-level activities that relate to different marketing functions, such as brand management, advertising, pricing, and distribution, and provides detailed analyses of their workings (or failures). An equally impressive body of work scrutinizes the psychological and soci
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