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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Market-scanning and Market-shaping
T2 - MASH-IN Workshop
AU - Diaz Ruiz, Carlos
AU - Baker, Jonathan J
AU - Mason, Katy
AU - Tierney, Kieran
N1 - 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.
PY - 2021/1/1
Y1 - 2021/1/1
N2 - 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.
AB - 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.
KW - Marketing strategy
KW - Market Making
KW - Market Shaping
KW - Market Practices
U2 - 10.1108/JBIM-03-2019-0130
DO - 10.1108/JBIM-03-2019-0130
M3 - Journal article
VL - 35
SP - 1389
EP - 1401
JO - Journal of Business and Industrial Marketing
JF - Journal of Business and Industrial Marketing
SN - 0885-8624
IS - 9
Y2 - 14 October 2019 through 16 May 2020
ER -