Micro-Level Product-Market Dynamics: Shared Knowledge and its Relationship to Market Development

Journal of the Academy of Marketing Science, Vol. 33, No. 2, 2005

Posted: 16 Sep 2004

See all articles by José Antonio Rosa

José Antonio Rosa

University of Illinois at Urbana-Champaign - Department of Business Administration

Jelena Spanjol

Ludwig Maximilian University of Munich (LMU) - Faculty of Business Administration (Munich School of Management)

Abstract

This work draws on consumer and psychology research to explain sociocognitive aspects of product-market dynamics at a higher level of specificity than prior research. We extend the field's understanding of market-shaping shared knowledge through a theory-informed discussion of how shared product knowledge comes to exist and how it changes as product markets develop. We define shared knowledge as the aspects of product representations that are common across the minds of market actors, making it possible for them to understand one another. The paper also discusses ways to track shared knowledge content that is expressed in market narratives. As the characteristics of shared knowledge are explained and linked to stages of product-market development, we develop a set of researchable propositions to guide future research. The theoretical arguments and propositions in this article complement extant marketing strategy research by integrating individual-level consumer theory with market evolution models.

Keywords: Product-market dynamics, sensemaking, market stories, shared knowledge, cognition

JEL Classification: D11, D21, L10, L21, M10, M31, O30, O32

Suggested Citation

Rosa, José Antonio and Spanjol, Jelena, Micro-Level Product-Market Dynamics: Shared Knowledge and its Relationship to Market Development. Journal of the Academy of Marketing Science, Vol. 33, No. 2, 2005. Available at SSRN: https://ssrn.com/abstract=590909

José Antonio Rosa

University of Illinois at Urbana-Champaign - Department of Business Administration ( email )

1206 South Sixth Street
110 David Kinley, MC 706
Champaign, IL 61820
United States
217-333-5160 (Phone)
217-244-7969 (Fax)

Jelena Spanjol (Contact Author)

Ludwig Maximilian University of Munich (LMU) - Faculty of Business Administration (Munich School of Management) ( email )

Kaulbachstr. 45
Munich, DE 80539
Germany

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