The Handbook of Marketing presents a major retrospective and prospective overview of the field of marketing, and provides a landmark reference at a time when many of the traditional boundaries and domains within the marketing discipline have been subject to change. The Handbook frames, assesses and synthesizes the work in the field and helps to define and shape its current and future development. It includes contributions from leading scholars in the field, and the input of an international and extremely distinguished advisory board of marketing academics. The Handbook of Marketing will be invaluable to advanced undergraduates, graduate students and academics in marketing.
Chapter 7: Competitive Response and Market Evolution
Competitive Response and Market Evolution
Our objective is to review the major areas of research that relate to the dimensions of ‘competitive response’ and ‘market evolution.’ We develop a conceptual framework that considers the interactions between these two key constructs of ‘competitive response’ and ‘market evolution.’ We, therefore, first identify what the key dimensions of competitive response and market evolution are. Then, we review the literature that addresses the impact that competitive responses (to a variety of market initiatives) can have on the evolution of a market. We then examine the research that considers how the evolution of a market can constrain and influence the responses of firms within an industry. Our framework also considers the impact that environmental (or exogenous) ...