A transaction cost explanation of vertical control in international markets
Article Abstract:
The author applies a model based on transaction cost analysis to explain the vertical control selections made by a sample of exporters. The model, which obtains significant support, suggests that an important contingency when deciding on the desired level of vertical control in a particular instance, is the ability of the market to limit the opportunistic tendencies of outside intermediaries. In effect, the market's ability to enforce contractural arrangements is often limited. When such enforcement cannot be relied upon, greater control represents a necessary alternative. (Reprinted by permission of the publisher.)
Publication Name: Journal of the Academy of Marketing Science
Subject: Business
ISSN: 0092-0703
Year: 1989
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Marketing as production: the development of a concept
Article Abstract:
The conventional view of marketing as somehow adding to the work of manufacturing is rooted in the concept of production as the creation of material attributes. A view of marketing as an integral part of a productive process generating 'bundles of utilities' has a long history in economic analysis. This approach offers several advantages for marketing thought. (Reprinted by permission of the publisher.)
Publication Name: Journal of the Academy of Marketing Science
Subject: Business
ISSN: 0092-0703
Year: 1990
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