A new perspective on market dynamics: market plasticity and the stability–fluidity dialectics

Nenonen, Suvi, Kjellberg, Hans, Pels, Jaqueline, Cheung, Lilliemay, Lindeman, Sara, Mele, Cristina, Sajtos, Laszlo and Storbacka, Kaj (2014) A new perspective on market dynamics: market plasticity and the stability–fluidity dialectics. Marketing Theory, 14 3: 269-289. doi:10.1177/1470593114534342


Author Nenonen, Suvi
Kjellberg, Hans
Pels, Jaqueline
Cheung, Lilliemay
Lindeman, Sara
Mele, Cristina
Sajtos, Laszlo
Storbacka, Kaj
Title A new perspective on market dynamics: market plasticity and the stability–fluidity dialectics
Journal name Marketing Theory   Check publisher's open access policy
ISSN 1741-301X
1470-5931
Publication date 2014-09
Year available 2014
Sub-type Article (original research)
DOI 10.1177/1470593114534342
Open Access Status
Volume 14
Issue 3
Start page 269
End page 289
Total pages 21
Place of publication London, United Kingdom
Publisher SAGE Publications
Collection year 2015
Language eng
Formatted abstract
Several researchers have pointed out that if marketing is to develop as a discipline and contribute to solving complex business and societal challenges, it should question the neoclassical view of markets and develop its own theory of markets. Efforts in this direction indicate an emerging view of markets as dynamic, subjective, and subject to multiple change efforts. However, the neoclassical view of objective, detached, and deterministic market still influences the dominant models used to describe market change. We argue that in order to better understand market dynamics, both academics and practitioners need new concepts and constructs that go beyond existing linear process and development stage models. We seek to contribute to improved understanding of markets by studying a special characteristic of markets that enables market dynamics. Borrowing a term used by Alderson (1957: 277), we propose that markets are characterized by plasticity, that is, a “potentiality for being remolded and responding in a different way thereafter.” Even though the plasticity concept was introduced into the marketing literature nearly 60 years ago, the plastic character of markets remains underresearched. This article investigates the meaning and manifestations of market plasticity, drawing analogies from the physical, natural, and social sciences. We define market plasticity as the market’s capacity to take and retain form and propose that the dialectic between market stability and market fluidity lies at the heart of market change.
Keyword Dialectics
Fluidity
Market dynamics
Markets
Plasticity
Stability
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2015 Collection
UQ Business School Publications
 
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