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Aalto University School of Business Master's Theses are now in the Aaltodoc publication archive (Aalto University institutional repository)
School of Business | Department of Marketing | Marketing | 2013
Thesis number: 13499
Market emergence through marketization lens: Case Restaurant Day
Author: Jumppanen, Nina
Title: Market emergence through marketization lens: Case Restaurant Day
Year: 2013  Language: eng
Department: Department of Marketing
Academic subject: Marketing
Index terms: markkinointi; marketing; markkinat; markets; kehitys; development; kuluttajat; consumers; kuluttajakäyttäytyminen; consumer behaviour; kaupungit; towns; ruoka; food; ravintolat; restaurants; kulttuurijohtaminen; arts management; hinnat; prices
Pages: 82
Key terms: consumer culture,; market development,; food culture,; market emergence,; marketization,; legitimacy,; citizen activism,; city culture,; goods,; agencies,; encounters,; price-setting,; market dynamics
Abstract:
Objectives of the study:

The functioning of markets has received increasing interest, however, the research on market evolution processes and their specific features is limited. This thesis is to further the understanding of Caliskan and Callon's marketization framework through describing one market emergence process, and also to find links to other consumer culture theories. The marketization framework recognizes the different elements in market evolution, however, the model is highly abstract and conceptual. The main goal of this study is therefore to explore and analyze a novel market setting through this marketization lens, and to provide practical and theoretical implications for research on evolutionary market processes.

Research method:

Restaurant Day, a one-day food carnival born in Finland and held four times a year, is chosen as a research context because of its newness and unique features. The methodology consists of an ethnographic research process including formal and informal interviews, observation, netnography, and self-participation in Restaurant Day.

Findings:

The findings reveal that all five marketization elements are there to be seen on Restaurant Day, however, this study notices that the marketization model does not cover intangible goods, limits of growth, market changes or institutionalization, non-monetary prices, or the market spirit. Restaurant Day market follows the marketization framework, however, there are emergent elements. This study also contributes to understanding encounters' role in market development. First, the encounter includes most of the market action as the actors are colliding in order to create the basis for a market. Second, the encounter develops dynamically, not just structurally, and when it matures it clarifies and constructs the whole market.
Master's theses are stored at Learning Centre in Otaniemi.