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| Author: | Storbacka, K. Nenonen, S. |
| Title: | Markets as configurations |
| Journal: | European Journal of Marketing
2011 : VOL 45:1/2, p. 241-258 |
| Index terms: | market theory pricing supply and demand |
| Language: | eng |
| Abstract: | The article aims to contribute to the development of a general market theory and examine markets as configurations by studying how these configurations emerge in business-to-business environment. The authors also study the influence of market actors and the capabilities they need to develop. Through theoretical analysis and conceptual development, it is found that market configurations can be seen as the processes of actors participating in market practices. As new actors enter the markets the market becomes more dynamic and evolves towards a more configurational fit, increasing the opportunities for co-creation. Value sensing, market scripting and the ability to measure markets, price formation and pricing logics are capabilities that market actors should develop. |
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