Competitive definitions in emergent markets: The case of market-data systems
Levenhagen, Michael
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Permalink
https://hdl.handle.net/2142/23511
Description
Title
Competitive definitions in emergent markets: The case of market-data systems
Author(s)
Levenhagen, Michael
Issue Date
1993
Doctoral Committee Chair(s)
Thomas, Howard
Department of Study
Business Administration, Marketing
Business Administration, Management
Discipline
Business Administration, Marketing
Business Administration, Management
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Business Administration, Marketing
Business Administration, Management
Language
eng
Abstract
This dissertation reports the results of three pilot studies, one background field study, and a large survey to buyers and suppliers of market-data systems. The dissertation uses a cognitive perspective on market structuring, competitive definitions, and rivalry.
The research provides evidence concerning the ill-structuredness of emergent markets; it provides a model of market formation; it sheds some new light on social-construction theories; it partially explains entrepreneurs' competitive behaviours and perceptions in emergent markets; and it underscores the need for research which uses more than cognitive perspectives.
The theoretical model argues that the roles of managers in new markets is that of a visionary who generates shared agendas about new knowledge and new competitive spaces within and between organizations: the creation of new value systems. This process is sensitive to the amount of structuredness of market domains.
"The data imply that the market-date systems' domain (MDSD) is pre-competitive domain. The MDSD exists in a state of flux so high that market participants cannot define it en masse. True market-data systems' products obviously do exist, but by the analyses in this dissertation, there are no clearly and consistent product categories recognized by the respondents. No market boundaries are found, there do not seem to be any niches, and no segmented domains are in evidence by the analyses. There is little (if any) agreement on the nature of products and services, and there are very low substitution rates between suppliers and products from both the demand side and the supply side. (Although proving a ""no structure"" argument is not easily done, the analyses suggest time and time again that the MDSD has no consistent structure.)"
The analyses of the MDSD fit with the descriptive assumptions underlying the Model of Market Formation (although the dissertation did not attempt to test the model directly).
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