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The theory of the marketing firm

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  • Gordon R. Foxall

Abstract

The theory of the marketing firm locates the rationale of the modern business enterprise that lies in its responding profitably to the imperatives of marketing orientation. Economic theories of the firm generally fail to recognize these imperatives, enhanced consumer choice and sophistication, which entail marketing orientation as the rationale of the firm. The paper propose 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, economizing on transaction costs, and enabling the management of marketing specialization.

Suggested Citation

  • Gordon R. Foxall, 2020. "The theory of the marketing firm," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 41(2), pages 164-184, March.
    • Handle: RePEc:wly:mgtdec:v:41:y:2020:i:2:p:164-184
    DOI: 10.1002/mde.3047
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    Cited by:

    1. Rafael Barreiros Porto & Gordon Robert Foxall, 2022. "The marketing‐finance interface and national well‐being: An operant behavioral economics analysis," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(7), pages 2941-2954, October.
    2. Sirinya Phulkerd & Cut Novianti Rachmi & Mohd Jamil Sameeha & Elaine Q. Borazon & Anne-Marie Thow & Helen Trevena & Adila Fahmida Saptari & Yong Kang Cheah & Che Aniza Che Wel & Vanessa T. Marquez & T, 2022. "Identifying Opportunities for Strategic Policy Design to Address the Double Burden of Malnutrition through Healthier Retail Food: Protocol for South East Asia Obesogenic Food Environment (SEAOFE) Stud," IJERPH, MDPI, vol. 19(1), pages 1-15, January.

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