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Applying an eMASS Customization Program as a Research Tool to Evaluate Consumer Benefits

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Market Fashioning.

Patrik Aspers¹, Petter Bengtsson², Alexander Dobeson³

¹Seminar for Sociology, University of St. Gallen, SfS-HSG Müller-Friedberg-Strasse 6/8, 9000 St. Gallen, Switzerland.

Theory and Society

|July 7, 2020

Summary

This study analyzes market creation through three models: mutual adjustment for differentiated products, organization for standardized goods and marketplaces, and fields for contextual power dynamics. These frameworks aid in understanding real-world market formation and evolution.

Keywords:

Economic sociology Exchange Field Marketplace Mutual adjustment Organization

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Area of Science:

Market studies
Economic sociology
Organizational studies

Background:

Markets are fundamental to economic activity, yet their formation processes are complex and multifaceted.
Existing literature often lacks a systematic framework for analyzing how different market structures emerge.
Understanding market fashioning is crucial for both academic research and practical economic strategy.

Purpose of the Study:

To systematically analyze three ideal types of market fashioning: mutual adjustment, organization, and fields.
To provide analytical tools for understanding real markets and marketplaces.
To differentiate the applicability of these models based on product characteristics and market dynamics.

Main Methods:

Comprehensive literature review on market formation and economic theories.
Development of three ideal types of market fashioning based on distinct processes.
Analysis of the relationship between market fashioning types and product characteristics (differentiated vs. standardized).

Main Results:

Mutual adjustment, characterized by non-planned processes, is suitable for markets with differentiated products (e.g., producer markets).
Organization, involving attempts to decide for others, aligns with markets for standardized products (e.g., stock exchanges) and the creation of marketplaces.
Fields represent the broader context, encompassing power struggles and the environment of market fashioning, rather than a specific process.

Conclusions:

The three ideal types offer a robust framework for analyzing diverse market structures.
Market fashioning is influenced by product homogeneity, planned versus non-planned processes, and power dynamics.
This typology enhances the analytical toolkit for scholars and practitioners studying markets and marketplaces.