Marketing Exchange Relationships, Transactions, and Their Media

By Franklin S. Houston | Go to book overview

5
Refinements in the Model of Internal/External Market Exchange

INTRODUCTION

Marketing, as an evolving discipline, has recently begun to extend the boundaries of the traditional and widely accepted exchange paradigm. Authors such as Houston and Gassenheimer ( 1987), Hirschman ( 1987b), and others have attempted to refocus existing research streams toward understanding exchange on a broader basis. Consistent with the broadening theme, we have recently suggested ( Lusch, Brown, and Brunswick 1992) that marketers, in part, are ignoring the complete scope of exchange phenomena by focusing only on the traditional process of marketing, which occurs in external markets. We have suggested that marketing scholars and practioners need to recognize further the important role of internal market exchanges. 1 The internal market represents a potent "competitor" to external market exchanges since it is essentially self-production, and therefore needs to be better incorporated into marketing thought, theory, research, and practice.

The role of this chapter, therefore, is to extend our initial work, and to expand on a number of topics that are recognized in the Lusch, Brown, and Brunswick EME/IME model ( 1992). Consequently we begin with a review of the model of Internal Market Exchange/External Market Exchange (IME/EME) and in so doing draw heavily from our 1992 article in the Journal of the Academy of Science (see Lusch, Brown, Brunswick 1992) since the approach taken in this chapter assumes a familiarity with this model. Figures 5.1 and 5.2 represent the basic model and the notion of the market/exchange/value creation continuum.

The topics presented in this chapter are an attempt to venture, conceptually, well beyond the initial presentation of the IME/EME model in an effort to prompt further thinking and research in the area of exchange theory and market choice behavior (i.e., the choice between external and internal markets). Specifically, then, four areas of exploration are considered in this chapter: (1) the concept of switching costs as they relate to internal versus external market exchanges, (2) the critical role of several key model constructs in determining market choice, (3) the moderating role of contextual issues such as the longivity of an internal market

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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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