Marketing Exchange Relationships, Transactions, and Their Media

By Franklin S. Houston | Go to book overview

1
The Marketing Taxonomy

Marketing is the study of potency variation achieved through exchange processes; exchange involves the transfer of value from one entity's assortment to another's assortment for the purpose of enhancing the potency of one's own assortment. We distinguish exchange from other ways we might shift resources among entities. Exchange assumes a bilateral or multilateral process in which each of the parties expects to receive and to give value. When we define exchange as being a transfer of value, we are not intending to include another behavior called "transfer," which involves the unilateral transfer of value.

Transfer is the giving or receiving of value with no expectation of value being passed in return. Transfer can be thought of as an internal process. That is, exchange takes place between entities and transfer takes place within an entity. Transfers are often intended to be shifts of value to enhance the potency of the entity and are worthy of study in and of themselves. A shift in resources within a family, such as a parent sending cash to a child away at school, would be a familial transfer.

Transfer then is reallocation within a unit or entity. As a discipline we have not studied why such transfers take place, nor have we studied when we would expect transfer and when we would expect some other form of behavior to satisfy needs. This would be similar to the more classic "make-buy" decision, but this assumes potency already exists in a useable form.

Transfer can be seen in a wide variety of entities. An organization such as IBM, the United States Postal Service, the Eagles football team, a fraternity or sorority, and a bridge club are all examples of entities and the transfer of potency could take place within any of these. We do think of these transfers as being distinct from marketing exchanges, however. They have different motives from exchange and they have different behaviors.

Notice that within a family we might have individuals, say a brother and sister, who pass their toys from one to the other as they grow older, and we recognize this as a transfer. We might have the same brother and sister negotiate between themselves, swapping household duties. Here we have exchange. The fact that the children do household chores is not an exchange relationship in this example, but the fact that the son is doing the daughter's chores and the daughter

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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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