Marketing and Non-Market Based Value Creation: Gifts and “Guanxi”

Ron Berger · Ram Herstein

5 citations0/0 files storedJournal of Business Theory and Practice

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Ethics in Business and Education Customer Service Quality and Loyalty Service and Product Innovation

Abstract

This conceptual paper analyses the general role of long term, non-market based value creation as being fundamental to business ethics and also to marketing concepts in societies in the 21st century. A framework is provided that combines the monetary nature of value in market-based exchange and the more social and emotional nature of long-term relationships. Particular attention is given to gift giving and to business interactions based on personal relationships, as exemplified in the Chinese concept of, “guanxi”. It is argued that they constitute important forms of value creation in a broad range of societies.

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References

1977Outline of a Theory of Practice 1994The Commitment-Trust Theory of Relationship Marketing 1995An Integrative Model Of Organizational Trust 2002Culture's Consequences: Comparing Values, Behaviors, Institutions, and Organizations across Nations 1981The Evolution of Cooperation 1998Social Capital, Intellectual Capital, and the Organizational Advantage 1990Foundations of social theory 1980Outline of a Theory of Practice.

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