09-04: Suvi Nenonen
Chair: Suvi Nenonen
Market-Shaping Strategies: Shifting Loci of Exchange and Eliminating Resource Integration Bottlenecks
Markets are increasingly seen sees as complex systems (Arthur, 2015; Vargo & Lusch, 2011) or ecosystems (Adner, 2017; Lusch et al., 2016), suggesting that market change happens in a balance between deliberate shaping efforts by various market actors, and spontaneous emergent developments (Mars et al., 2012). However, many of the widely taught and used frameworks are based on a linear, dyadic and static view of markets, making them ill-equipped for the contemporary networked and dynamic operating environments.
Recently, Vargo and Lusch (2017, 59) called for more evidence-based research that integrates “frameworks and theories on strategy development and implementation with the complexity of service ecosystems”. Thus, the purpose of our research is to identify recurring patterns of market-shaping: what strategies do market-shaping actors use in order to influence service ecosystems?
Adopting exploratory case study as our method, we analyzed 84 in-depth semi-structured interviews from 21 case companies against the conceptualization of systemic markets put forward by Nenonen et al. (2018). Our analysis identified four recurring market-shaping strategies:
Our research contributes to the on-going investigations on how the loci of market exchanges are renegotiated (Lusch & Watts, 2018) and the interplay between resource integration practices and actors’ agency (Taillard et al., 2016). The identified market-shaping strategies can also form a basis for managerial applications on how various market actors – including public actors – can broaden their strategic repertoire from reacting to market changes to inducing them.