Developing The Institutional Network Approach To Markets And Business Marketing Practice

Based on a socio-economic perspective and the business marketing reality of emerging country markets, this conceptual paper develops the institutional network approach to markets. The purpose is to compare markets and marketing practices in and between emerging markets as well with mature markets. To give a background to the socio-economic approach developed, other major approaches to the relation between market forms and marketing are discussed, viz. the neoclassical perfect market, market imperfections theory, the market as economic institution, and the market-as-network approach.