How Are Markets Changing? The Emergence of Consumers Market Systems

How are markets changing? This study builds upon the works of Giesler (2003, 2008) trying to provide possible answers to the proposed research question and to address a gap that appears still uncovered in the study of market systems dynamics (Siebert, Thyroff, 2013). Primarily thanks to the opportunities offered by the new Information and Communication Technologies, the consumer is nowadays no longer an individual actor that interacts with firms on a traditional market exchange basis, but a part of an interconnected system in which information sharing, debates and opinions decisively influence behaviours and relationships with firms (Karavdic, Gregory, 2005; Cova, Dalli, Zwick, 2011; Barile, Saviano, 2014). The reality of the emergence of consumers market systems is apparent (Martin, Schouten, 2014). Nevertheless, scholars as well as practitioners seem to have not yet developed a coherent framework for understanding and dealing with such dynamics (Giesler, 2008). Accordingly, this study, by adopting a systems thinking view through the interpretative lens of the Viable Systems Approach (vSa) (Barile, 2000, 2009, 2013; Golinelli, 2000, 2005, 2010; Golinelli et al. 2012; Dominici, Basile, Palumbo, 2013), specifically investigates the dynamics of emergence of consumers market systems providing a conceptual framework useful both to researchers and businesses’ decision makers in the definition of appropriate strategies for effectively dealing with dynamically changing market formations (Press, Arnould, 2011). Theoretical background and methodology Several researchers and operators have analysed the consumer behaviours with the aim of understanding what are the key variables and dynamics that characterize their dynamics and evolutions. These studies highlight that consumers market is evolving toward a systems configuration and that this evolution is affecting exchange and relationships with firms as well as other social organizations and institutions (Gouthier, Schmid, 2003; Mastroberardino, Magliocca, Calabrese, 2005; Peñaloza, Mish, 2011). Consumer Culture Theory (CCT) has traditionally underlined the social role of the consumption and the linked influence of relationships in the definition of consumer behaviours (Arnould, Thompson, 2005; Kozinets, 2002; Thompson, Arnould, Giesler, 2013). In this perspective, however, it appears clear that the traditional marketing approaches focused on the consumer as individual actor are no longer adequate to address the challenges of current evolutionary trends that are expressions of the emerging paradigm of Consumers Market Systems. The paper develops a conceptual framework that integrates theoretical contributions from the following research streams: - the Consumer Culture Theory (CCT) as a theoretical perspective that highlights the relevance of the social dimension in the understanding of the process of emergence of consumer market systems (Arnould, 2006; Askegaard, Linnet, 2011; Fitchett, Patsiaouras, Davies, 2014). - the Viable Systems Approach (vSa) as a set of general interpretation schemes that support the understanding of the evolutionary pathway that leads to the formation of consumer market systems (Barile, 2000, 2009, 2013; Barile et al., 2012; Golinelli, 2000, 2005, 2010; Saviano, 2003; Saviano, Caputo, 2013); - the Many-to-many relationship approach for understanding the mechanism of formation of markets networks structures (Gummesson, 2006); - the Service Dominant-Logic (SDL) as a mindset that directs focus on interaction, resource integration and value co-creation as key processes of a new logic of market exchange (Prahalad, Ramaswamy, 2004; Lusch, Vargo, 2006; Payne, Storbacka, Frow, 2008; Mele, Polese, 2011; Schembri, Sandberg, 2011; Frow et al., 2014)