Marketing Behaviour and Entrepreneurship: A Synthesis of Alderson and Austrian Economics

Postulates that the main purpose here is to merge the ideas of Wroe Alderson, a leading original marketing theorist, using recent works in Austrian economies in order to provide a point of departure for an entrepreneurial‐based theory of marketing. States that there are three parts herein: first, reviews Alderson's concepts of market behaviour, integrating them with the Austrian perspective; second, addresses an investigation of the nature of information required in dynamic markets; third, establishes the role of the entrepreneur in the dynamic market as the means of answering this question. Investigates the homogenous market and the discrepant market, discussing these in depth and also discussing entrepreneurship as dynamic marketing behaviour. Concludes that since entrepreneurs are motivated by profit, however defined, then any suppression or taxation of profits will reduce entrepreneurship, lessen marketing activity and decrease the congruence between wants and supplies.