Markets are not out there waiting to be discovered

It is a common idea among marketing practitioners to believe that markets are pre-existing and that they need to be discovered (un-covered, may be). In other words, marketing managers should be well equipped with picks and shovels and dig deep to excavate needs. A careful look at market practices shows that marketing is not a mining activity. It resembles more to a construction business where usage and solutions are built conjointly. Marketing is about the monitoring of market exchange. This is one convenient definition accepted in the paradigm of Social Exchange Theory. Many constituents can be influenced for markets to be: preference formation, a market place, norms or rules, etc. A significant body of literature details these dynamics. So markets do not pre-exist. They become.