On a Theory of Markets and Marketing: From Positively Normative to Normatively Positive

Stephen Louis Vargo

122 citations0/0 files storedAustralasian Marketing Journal (AMJ)

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Economic Theory and Institutions Historical Economic and Legal Thought Management Theory and Practice

Abstract

Marketing science is built on a foundation of economic science, which in turn is founded on Adam Smith's normative notions of how to create national wealth in the context of industrialization, rather than on a positive theory of economic exchange. This paper explores the formation of economic theory, discuss its role as a foundation for marketing theory, suggest the need for a positive theory of the market that is relatively independent of economic theory, and point towards a possible path for its development.

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References

1986Increasing Returns and Long-Run Growth 2003Evolving to a New Dominant Logic for Marketing 1776An Inquiry into the Nature and Causes of the Wealth of Nations 1995The Theory of the Growth of the Firm 1995Developing relationships in business networks 1985Problems and Strategies in Services Marketing 1992The Changing Role of Marketing in the Corporation 1994From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing

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