The generalized exchange framework: A guide for managing norms in traditional & non-traditional markets

ABSTRACT

While the sharing literature makes claims of uniqueness relative to traditional markets, we show how any market can be understood by positioning salient actors in terms of social distance, and understanding the degree of mutuality in their norms. We introduce the Generalized Exchange Framework, which offers a theoretically rigorous model for understanding and managing any market. An ethnographic study of the craft beer industry illustrates elements of both mutuality and possessive individualism, highlighting normative structures influencing actors in firms‘ environments. We offer managerial implications based on an understanding of the degree to which industry actors value mutuality to differing degrees.

Disclosure statement

No potential conflict of interest was reported by the author(s).

Notes

¹ Note that brand communities in which typically highly involved consumers connect and jointly create linking value for brands based on brands’ informal and symbolic value for members (Cova & White, 2010) can also facilitate sharing of brand-related information and potentially branded goods. However, we view these as distinct from the alternative market forms as conceptualized in this paper and the literature summarized in Table 2.

Table 2. Summary of selected relevant research.

² Note that Arnould and Rose (2016) do not address the social distance dimension of the GEF. We adopt their theoretical perspective with respect to mutuality but focus on its managerial implications.

³ From https://www.eventbrite.com/blog/brewery-marketing-ds00/