Scripting markets: From value propositions to market propositions

Abstract

There is a keen interest in marketing to move away from the neo-classical market definition suggesting that markets are places where demand and supply meet to reach equilibrium. In the present study, markets are defined as configurations of interdependent elements (market actor's mental models, market actor's business models, market practices) that make an increased density of resources, capabilities and value cocreation possible for the participating actors. The findings of the research indicate that firms can actively alter market configurations by engaging in market scripting: offering market propositions that illustrate their view on how the market should be configured and engaging actors in activities aimed at creating a shared market view. In market scripting the scripting actor aims to align the mental models and business models of other market actors so that they reinforce the mental and business models of the scripting actor and increase the ‘marketness’ of the market configuration.