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Continuous Learning about Markets
Abstract
Market-driven firms stand out in their ability to continuously anticipate market opportunities and respond before their competitors. The market learning processes in these firms are distinguished by: open-minded inquiry based on the belief that all decisions are made from the market back; widespread information distribution that assures that relevant facts are available when needed; mutually informed mental models that guide interpretation and ensure that everyone pays attention to the essence and potential of the information; and an accessible memory of what has been learned. However, mastery of all the steps in the learning process is rare. Most firms suffer disabilities at one or more stages. Overcoming these learning disabilities and enhancing market learning competency is an important management challenge.
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Citations
Cited by
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Wang, C. L. (2008) · Entrepreneurship Theory and Practice · doi:10.1111/j.1540-6520.2008.00246.x · Cited by 1,056
Developing a customer value-based theory of the firm
Slater, S. F. (1997) · Journal of the Academy of Marketing Science · doi:10.1007/bf02894352 · Cited by 710
Remembrance of Things Past? The Dynamics of Organizational Forgetting
Holan, P. M. D., & Phillips, N. (2004) · Management Science · doi:10.1287/mnsc.1040.0273 · Cited by 556
Instituting the Marketing Concept in a Multinational Setting: The Role of National Culture
Nakata, C., & Sivakumar, K. (2001) · Journal of the Academy of Marketing Science · doi:10.1177/03079459994623 · Cited by 265
Beyond products: new strategic imperatives for developing competencies in dynamic environments
Fowler, S. W., King, A. W., Marsh, S. J., & Victor, B. (2000) · Journal of Engineering and Technology Management · doi:10.1016/s0923-4748(00)00029-1 · Cited by 127
Metadata
- Authors
- Day, G. S.
- Venue
- California Management Review
- Publisher
- SAGE Publications
- Published
- 1994-07
- Volume
- 36
- Issue
- 4
- Pages
- 9-31
- ISSN
- 0008-1256 (ISSN-L)
- 2162-8564
- OpenAlex
- W2040794779
- Cited by
- 492
- References
- 0
- FWCI
- 28.49
- Type
- journal article
- Language
- en
- Open access
- closed
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Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
