User:ObsidianBlack13/sandbox

= Market shaping = Market shaping considers markets as processes of constant change in which the actions of different actors intentionally and unintentionally shape markets. Drawing on theories and concepts from marketing, complexity science, economic sociology and anthropology, market shaping questions the classical economic view of markets as pre-existing arenas of competition and instead considers markets as socially constructed complex adaptive systems that are able to take and retain form.

Market shaping as a strategy
Market shaping as a strategy represents a strategic approach in which a focal market actor actively attempts to influence market structures and market behaviors to their favor.

Flaig et al. developed a typology of four market shaping strategies that can result in different market outcomes:

Offensive market shaping strategies
Market widening - Focuses on market modifications that enable the inclusion of additional market actors and market activities favoring the market-widening firm.

Market disruption - Induces such high levels of market change resulting into the creation of a new market.

Defensive market shaping strategies
Market maintenance - Focuses on stabilizing and reinforcing a current market form pursuing the goal of market resilience.

Market reduction - Aims at reducing the number of interfering market actors and market activities in order to consolidate and increase market power.

Market shaping as a process
Market shaping as a process is considered to be constituted by three overarching market practices that shape and reshape markets. In line with the view of markets as continous processes of change, market practices are defined as all activities that contribute to the existence of markets. These market practices focus on exchange, representational and normalizing practices.

Exchange practices - the explicit acitivities involving the actual economic exchange

Representational practices - activities that represent economic exchanges as markets

Normalizing practices - activities that contribute to establish normative objectives for actors, e.g. how a market or/its actors should be re(shaped)