The Political Economy of Marketing Systems: Reviving the Institutional Approach
- 1 October 1981
- journal article
- research article
- Published by SAGE Publications in Journal of Macromarketing
- Vol. 1 (2) , 36-47
- https://doi.org/10.1177/027614678100100206
Abstract
This article identifies elements of an institutional approach to marketing to supplement the presently dominant paradigm based on the neoclassical economic theory of resource allocation. An important part of the political economy of marketing systems is the interplay of the three main social and economic control mechanisms: markets, politics, and hierarchies. The institutional framework is applied to areas such as comparative marketing and performance indicators for marketing systems.Keywords
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