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By Michael J. Baker

'For the coed at undergraduate and postgraduate point, this publication needs to develop into the traditional connection with rival or change Kotler, no longer least since it avoids any American bias and is a smart deal much less expensive.' overseas magazine of advertisements chosen for the great e-book advisor for enterprise.

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Major perspectives adopted can be identified by using three dichotomies-micro/macro, descriptive/ decision -oriented, profit/ non-profit. By examining the various approaches and allocating authors to these categories, it is easy to understand why marketing is considered a science by some and not by others, and why theoretical development and agreement is more difficult. The practitioners like Levitt, Buzzell, Vaile and Taylor would suggest that marketing should be restricted to the profit/micro/normative definition, which can be traced to the 1920s, but received greatest emphasis in the early 1960s when the managerial approach to marketing was in fashion.

Further, it is our opinion that a theory of marketing demands a synthesising of concepts from both the economic and the behavioural sciences if it is to constitute an adequate explanation of the true nature-üf exchange. In many senses the practice of marketing today is in a very similar situation to that which obtained prior to the statement of the law of thermo-dynamics in terms of the development of the steam-engine. Thus, as Halbert has pointed out,l marketing needs to develop a theory both to improve operational performance as weH as to satisfy an intellectual desire to evolve an explanation of a confused world.

It is recognition and acceptance of the need to improve our understanding of the manner in which the system works which underlies the need to develop a workable theory of exchange. It must be stressed that the key word in the preceding sentence is 'workable' for clearly there are welldeveloped theories of exchange in economics and in the behavioural sciences. However, from our point of view these are inadequate for they are an oversimplified and stylised representation of real-world behaviour. Further, it is our opinion that a theory of marketing demands a synthesising of concepts from both the economic and the behavioural sciences if it is to constitute an adequate explanation of the true nature-üf exchange.

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