Market-scanning and market-shaping : why are firms blindsided by market-shaping acts?
Purpose: This paper aims to investigate two seminal market-scanning frameworks – the five-forces analysis and PESTEL environmental scanning tool – to assess their readiness for anticipating market-shaping acts. Design/methodology/approach: 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: 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. Research limitations/implications: The authors 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/value: This paper is the first to consider market-scanning frameworks from a market-shaping perspective.
Year of publication: |
2020
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Authors: | Diaz Ruiz, Carlos A. ; Baker, Jonathan J. ; Mason, Katy ; Tierney, Kieran |
Published in: |
Journal of Business & Industrial Marketing. - Emerald, ISSN 0885-8624, ZDB-ID 2019934-X. - Vol. 35.2020, 9 (15.06.), p. 1389-1401
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Publisher: |
Emerald |
Saved in:
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