Marketing Exchange Relationships, Transactions, and Their Media

By Franklin S. Houston | Go to book overview

4
Exchange as a Vital and Fundamental Consumer Behavior Phenomenon

Although exchange has been written about extensively in the marketing literature, it has been less investigated in consumer research. Yet, it is an essential part of consumer behavior and deserves more attention in that regard. At the same time, treating exchange from the point of view of consumer behavior does not mean a complete divorce from marketing aspects of exchange. However, it does mean a reassessment and redefinition of the roles each domain plays in exchange. Marketing is largely concerned with exchange in the purchase process. Consumer behavior also involves the purchase process, but it is concerned with the product use process as well ( Gould 1991a). Therefore, consumer behavior in some general sense concerns not only phenomena that are directly related to but also phenomena that might be characterized as postmarketing 1 in the sense that marketing's influence on and involvement in consumers' use of products is nonexistent, more indirect, and/or less intense than its influence and involvement in product purchase. I will follow this general characterization here while noting that many exceptions may also exist. For example, marketing processes pervade the use of some services (e.g., the services provided on an airplane constitute a part of the marketing of the airline as well as providing an intrinsic response to consumer needs).

To examine exchange phenomena in consumer behavior further, there exists the need to take existing consumer research theory and concepts and consider them in terms of exchange. There also exists the need to reconceptualize exchange, itself, in terms of some new concepts. Therefore to pursue these issues, I will consider the following: (1) exchange, energy systems, and life; (2) the resources exchanged; (3) a typology of exchange: the Consumer Exchange Framework; (4) the factors facilitating exchange: the Exchange Control Process; (5) types of exchange parties; and (6) implications for theory development.


EXCHANGE, ENERGY SYSTEMS, AND LIFE

Potency is a term derived by Alderson ( 1965) to speak to what consumers get out of exchanges. They seek potency or stored value in their assortment of goods

-45-

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Marketing Exchange Relationships, Transactions, and Their Media
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • Introduction ix
  • Note xiii
  • 1: The Marketing Taxonomy 1
  • Notes 10
  • 2: Comments on Extending the Domain of the Marketing Discipline 11
  • Conclusions 27
  • 3: Reciprocity within a Community 35
  • Concluding Comments 43
  • 4: Exchange as a Vital and Fundamental Consumer Behavior Phenomenon 45
  • Conclusion 54
  • Notes 54
  • Notes 57
  • 5: Refinements in the Model of Internal/External Market Exchange 59
  • Note 76
  • 6: Time, Potency, and Exchange: Making the Most of the Time Resource 77
  • Summary 98
  • 7: The Spatial Dimension 99
  • Summary 113
  • AFTERWORD 115
  • 8: The Evaluation Process and Its Impact on Decision Making in Exchange Relationships 117
  • Note 139
  • 9: How Exchange for Resale Differs from Exchange for Consumption 141
  • Conclusion 151
  • 10: Inequitable or Incomplete Social Marketing: The Case of Higher Education 153
  • Concluding Observations 162
  • Supplemental Reading 163
  • 11: Externalities of Exchange: Foundations for Future Study 167
  • Note 186
  • 12: Exchange: Ethical and Legal Foundations 189
  • Conclusion 210
  • Note 210
  • 13: An Examination of Exchange Media from an Historical Perspective 213
  • Note 224
  • 14: Some Ingestible and Other Types of Consumable Currencies 225
  • Conclusion 235
  • Notes 236
  • 15: The Changing Role of Legal Tender: An Historical Perspective 239
  • Conclusion 244
  • Notes 245
  • 16: Means of Payment in Marketing 247
  • Summary 264
  • Notes 265
  • Bibliography 267
  • Index 303
  • About the Contributors 315
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