TY - JOUR
T1 - The theory of monopolistic competition, marketing's intellectual history, and the product differentiation Versus market segmentation controversy
AU - Hunt, Shelby D.
PY - 2011/3
Y1 - 2011/3
N2 - Edward Chamberlin's theory of monopolistic competition influenced greatly the development of marketing theory and thought in the 1930s to the 1960s. Indeed, marketers held the theory in such high regard that the American Marketing Association awarded Chamberlin the Paul D. Converse Award in 1953, which at the time was the AMA's highest honor. However, the contemporary marketing literature virtually ignores Chamberlin's theory. The author argues that the theory of monopolistic competition deserves reexamining on two grounds. First, marketing scholars should know their discipline's intellectual history, to which Chamberlin's theory played a significant role in developing. Second, understanding the theory of monopolistic competition can inform contemporary marketing thought. Although our analysis will point out several contributions of the theory, one in particular is argued in detail: the theory of monopolistic competition can contribute to a better understanding of the "product differentiation versus market segmentation" controversy in marketing strategy.
AB - Edward Chamberlin's theory of monopolistic competition influenced greatly the development of marketing theory and thought in the 1930s to the 1960s. Indeed, marketers held the theory in such high regard that the American Marketing Association awarded Chamberlin the Paul D. Converse Award in 1953, which at the time was the AMA's highest honor. However, the contemporary marketing literature virtually ignores Chamberlin's theory. The author argues that the theory of monopolistic competition deserves reexamining on two grounds. First, marketing scholars should know their discipline's intellectual history, to which Chamberlin's theory played a significant role in developing. Second, understanding the theory of monopolistic competition can inform contemporary marketing thought. Although our analysis will point out several contributions of the theory, one in particular is argued in detail: the theory of monopolistic competition can contribute to a better understanding of the "product differentiation versus market segmentation" controversy in marketing strategy.
KW - Chamberlin
KW - market segmentation
KW - marketing strategy
KW - product differentiation
UR - http://www.scopus.com/inward/record.url?scp=79952272419&partnerID=8YFLogxK
U2 - 10.1177/0276146710382119
DO - 10.1177/0276146710382119
M3 - Article
AN - SCOPUS:79952272419
SN - 0276-1467
VL - 31
SP - 73
EP - 84
JO - Journal of Macromarketing
JF - Journal of Macromarketing
IS - 1
ER -