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Extending the Vision of Social Marketing through Social Capital Theory

Marketing in the Context of Intricate Exchange and Market Failure

University of Melbourne, Australiaa.glenane{at}pgrad.unimelb.edu.au

Gregory Whitwell

University of Melbourne, Australiawhitwell{at}unimelb.edu.au

Simon J. Bell

University of Cambridge, UKs.bell{at}jims.cam.ac.uk

Bulent Menguc

University of Melbourne, Australiab.menguc{at}unimelb.edu.au

Broadening the conceptual boundaries of marketing in the late 1960s led to a significant paradigm shift. Social marketing emerged under the auspices of this extended concept. It is not surprising, therefore, that social marketers have tended to apply conventional marketing tools, albeit within a vastly different context. Thisarticle argues that social marketers, operating in an environment that is characterized by amplified market failure brought about by externalities, may be ill-equipped to foster change utilizing conventional marketing tools. The article proposes that social capital is a useful and appropriate theory to supplement traditional notions ofmarketing to further enhance the field of social marketing.

Key Words: exchange • marketing concept • market failure • marketing tools • social capital theory • social marketing

Marketing Theory, Vol. 3, No. 3, 323-343 (2003)
DOI: 10.1177/147059310333002


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