Marketing Exchange Relationships, Transactions, and Their Media

By Franklin S. Houston | Go to book overview

medical exchange situation, the satisfaction of the patient can be predicted to increase as resource inputs decrease and resource receipts increase. This is a fundamentally different view of the exchange process than that found in the work of Parasuraman, Zeithaml, and Berry ( 1985).

As a summary statement, if entities are viewed as decision makers who evaluate the resource bundles offered by their exchange partners as well as by themselves, a fundamentally new perspective is gained on the service quality literature as well as on the exchange literature. In addition, an entire series of research questions that are amenable to empirical tests emerge. Indeed, the study of evaluation processes in exchange relationships may act as a means of bridging the literatures on exchange, service quality, and satisfaction. Furthermore, the approach suggests the value of extending the TOV model to account for outcomes that occurred in the past as well as those expected to occur in the future. Mowen and Gaeth ( 1992) suggested that the TOV model works for outcomes that occur in the past as well as those that occur in the future. Thus, when looking back at previous gains and losses, discounting also occurs. In addition, losses are discounted more quickly than gains. By combining the ideas from the TOV model with the marketing lens model, new insights can be gained in the formation of expectations of product value as well as the judgment of product satisfaction at varying time points after the purchase.

John C. Mowen


NOTE
1.
Foa and Foa employed "love" as the sixth resource, rather than feelings. The change was made in the text because love is an inappropriate term for the types of feelings engendered in a consumer exchange. In addition, in some contexts negative, rather than positive, feelings may be communicated.

-139-

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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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