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Market-scanning and Market-shaping: Why are firms blindsided by market-shaping acts?

Research output: Contribution to journalJournal articlepeer-review

Published
  • Carlos Diaz Ruiz
  • Jonathan J Baker
  • Katy Mason
  • Kieran Tierney
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<mark>Journal publication date</mark>1/01/2021
<mark>Journal</mark>Journal of Business and Industrial Marketing
Issue number9
Volume35
Number of pages13
Pages (from-to)1389-1401
Publication StatusPublished
Early online date15/06/20
<mark>Original language</mark>English
EventMASH-IN Workshop: Market Shaping - Auckland Univerisity, Auckland, New Zealand
Duration: 14/10/201916/05/2020

Workshop

WorkshopMASH-IN Workshop
CountryNew Zealand
CityAuckland
Period14/10/1916/05/20

Abstract

Purpose: This paper investigates two seminal market-scanning frameworks – the Five-Forces analysis and PESTEL environmental scanning tool – to assess their readiness for anticipating market-shaping acts.

Design: Drawing on the market-shaping literature that conceptualizes markets as complex adaptive systems, this conceptual paper interrogates the underlying assumptions and ‘blind spots’ in two seminal market-scanning frameworks. The paper showcases three illustrative vignettes in which non-industry actors catalyzed market change in ways that these market-scanning frameworks would not be able to anticipate.

Findings: We find marketing strategists can be ‘blindsided’ as seminal market-scanning frameworks have either too narrow an interpretation of market change, or are too broad to anticipate specific types of market-shaping acts. The assumptions about markets that underpin these market-scanning frameworks contribute to incumbents being slow to realize market-shaping acts are taking place.

Contributions: We extend market-scanning to include a type of managerial myopia that fails to register the socially embedded, systemic nature of complex contemporary markets. Furthermore, the paper provides an ‘actors-agendas-outcomes’ scanning framework that offers awareness of market-shaping acts.

Originality: This paper is the first to consider market-scanning frameworks from a market-shaping perspective.

Bibliographic note

This article is (c) Emerald Group Publishing and permission has been granted for this version to appear here. Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited.