Actor’s exchange paradigms and their impact on the choice of marketing models

Abstract

The on going debate on whether the traditional marketing mix model is out dated, incomplete, insufficient and/or limited was initially launched by academics belonging lo the IMP group and/or the service school of marketing. Most of these authors reach the conclusion that the 4 P's model is inadequate for the new millennium. The presented approaches set the emphasis on the world and in a way neglect the role that actors and their perceptions play in interpreting the environment. This paper recommends that the firms start looking at which arc the value propositions sought and offered by the diferent actors of the exchange process and how they evolve over time ns the context changes. And only then look al the alternative marketing models. Thus this paper will deal with actors and their exchange paradigms. and it will take a dyadic perspective. The paper recommends a shin of the center of analyses from the exchange relationships or transactions. to the exchange situations that result from the actors' exchange paradigm. and it aims at proposing a classification schemata based on the actors' exchange paradigm that serves as a road map for guiding the theorclical efforts of others. According to the actors' exchange paradigm. exchange situations can be of a transaction, relationship or hybrid nature. Only when the exchange situation is known, can the marketing manager define the appropriate marketing model to be used in each case. The paper also seeks to show that exchange paradigms and consequently exchange situations are not markets specific. On the contrary, in most industrial. consumer or service markets both paradigms may and do co-exist.