- 11 Mar 2016
- Working Paper Summaries
Becoming a Cognitive Referent: Market Creation and Cultural Strategyby Rory McDonald
Executive Summary — Rory McDonald describes the making of a "cognitive referent," which is a firm that customers, the media, analysts, and employees automatically associate with a new market category--think Starbucks and coffee.
Research has examined firms' use of rhetoric and symbolic activities in the process of creating new markets. This study analyzes how entrepreneurial firms use these cultural strategies to position themselves in a nascent market category they are creating.