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The Theory of the Marketing Firm Comes of Age

In: The Marketing Firm, Volume I

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  • Gordon R. Foxall

    (Cardiff Business School, Cardiff University
    Department of Business and Economics, Reykjavik University)

Abstract

The theory of the marketing firm locates the rationale of the modern business enterprise in its responding profitably to the imperatives of marketing-orientation. Economic theories of the firm generally fail to recognise these imperatives, enhanced consumer choice and sophistication, which entail marketing-orientation as the rationale of the firm. The chapter proposes a competence theory of the firm as a metacontingency and examines the bilateral contingencies by which firms link to their consumerates, which indicate their capacities for customer-orientation. The marketing firm emerges as a means of encapsulating entrepreneurship, economising on transaction costs, and enabling the management of marketing specialisation.

Suggested Citation

  • Gordon R. Foxall, 2025. "The Theory of the Marketing Firm Comes of Age," Springer Books, in: Valdimar Sigurdsson & Gordon R. Foxall (ed.), The Marketing Firm, Volume I, chapter 2, pages 5-65, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-91595-6_2
    DOI: 10.1007/978-3-031-91595-6_2
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