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Institutional economics focuses on understanding the role of the evolutionary process and the role of institutions in shaping economic behavior.Its original focus lay in Thorstein Veblen's instinct-oriented dichotomy between technology on the one side and the "ceremonial" sphere of society on the other.
Marketing system is a general term that represents how different patterns of the flows of goods/services from producers to consumers are culturally (uniquely) organised, whereas terms such as market system (a market based economic system of the West), horizontal marketing system (cooperation between two firms at the same level), and digital ...
Disciplines such as sociology, economic history, economic geography and marketing developed novel understandings of markets [14] studying actual existing markets made up of persons interacting in diverse ways in contrast to an abstract and all-encompassing concepts of "the market". The term "the market" is generally used in two ways:
An institutional investor is an investor, such as a bank, insurance company, retirement fund, hedge fund, or mutual fund, that is financially sophisticated and makes large investments, often held in very large portfolios of investments. Because of their sophistication, institutional investors may often participate in private placements of ...
The social market economic model, sometimes called Rhine capitalism, is based upon the idea of realizing the benefits of a free-market economy, especially economic performance and high supply of goods while avoiding disadvantages such as market failure, destructive competition, concentration of economic power and the socially harmful effects of ...
Additionally and more recently, ecological theory has been used to examine economic systems as similar systems of interacting species (e.g., firms). [59] Cultural studies examines social class, production, labor, race, gender and sex. Communications examines the institutional aspects of media and telecommunication systems. As the area of study ...
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It includes concepts such as demography, economy, natural forces, technology, politics, and culture. The purpose of analyzing the macro marketing environment is to understand the environment better and to adapt to the social environment and change through the marketing effort of the enterprise to achieve the goal of the enterprise marketing.