Management theory was for long dominated by Causation, (just think about Kotler, in other words Planning, Implementing and follow up.) a different theory that has gained momentum in the last years ( Even if it was first launched in 2001 by Saras D Sarasvathy) is the theory of effectuation that is means driven instead of ends driven. I studied those theories quite extensively but found that when it comes to effectuation there is still no consensus, in other words the theory is not yet mature, something that is in my view a bit odd since the theory is 20 years old just about. Why do you think it has taken such a long time for this theory to mature? my second question. What is the relevance of Kotlers Marketing Management today? Still relevant or? Your thoughts?
A theory that deserves more attention and promotion .... Kotler (timeless theory) in the business world and the spiritual father of marketing @ Henrik G.S. Arvidsson
Both causation (Kotler) and effectuation (Sarasvathy) are very relevant, when it comes to understand marketing management. Advancing research into cognitive biases of the managerial marketing process requires a better behavioral understanding of bounded rationality and intuitive reasoning.
https://faculty.wharton.upenn.edu/wp-content/uploads/2015/07/2001---effects-of-emotional-and-social-processes-on-bounded-rationality.pdf
In this sense, marketing is much more a (open loop) process than a (closed loop) system, in terms of behavioral interplay between prospective client and offered product in all the bazaars of life.
Effectuation is an eye opener how real world entrepreneurs tend to act. For established business it connects nicely with the resource based view of strategy. All in all it is a contribution to understand the world and possible future, even if less predictible, outcomes. I still recommend using traditional tools, at the very least, as cross-checks.
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