May 19, 2010

The role of marketing in making the markets!

The role of marketing in the construction of markets is essentially per formative. Rather than seeing the economy as embedded in the society, we have the economy embedded in economics, broadly understood as all the activities involved in marketing such as analyzing and intervening emphasize in markets. The heart of marketing game is the relationship that lies between the theory and the practice in order to make a market. However, the construction of competitive market forms requires more distributed and heterogeneous sets of practices and bodies of expertise.
The disagreement developed in this fragment of marketing as a practice is deeply embedded in specific market contexts, spatially distributed, and dependent on complex forms of coordination amongst different performers and heterogeneous bodies of expertise. Making up the consumer turned out to be the drafting of psychological expectations through bodies of expertise (e.g. psychoanalysis) to map the needs of consumers, linking those needs with specific products and their context of usage. In particular, through the application of psychological expertise, the notion of consumer choice was placed in a broader context of subjective meanings and lifestyles rather than linked to the physical attributes and functions of products.
Although this application of these bodies of expertise fell short of providing a full theory of consumer choice. However, their power and worth to manufacturers and their associates, namely advertisers, curtailed from their ability to turn into the process of choice clear in terms of the make-up of psychological factors affecting choice and the potential to control the process at different stages.
The work of qualifying of goods at the heart of market processes is not an easy stage. Markets are continuously being made and remade as a result of the processes of singularization of goods as well as the construction of spaces of similarity where goods can be compared. Marketing agents are deeply involved in these processes of qualification and requalification. Existing market structures and qualification processes serve both as a constraint and as resource for new attempts at requalification and restructuring of markets.
Consumers are trapped in this dynamic and continuous process of qualification and requalification, either sticking to existing routines and attachments or engaging with the efforts at requalification. Attached consumers accept the status quo and are driven by their routine choices supported by the existing apparatus of qualification (e.g. category definitions as embodied in shelf positioning), whereas consumers captured by the process of requalification are willing to re-evaluate their routines, the qualities of products, as well as the systems of classifications of goods. This can be a key of all brands to play in the top-of-mind consumers’ priority and transparently the profitability with performance for manufacturers.

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