The role of imaginaries in the construction of an innovative market: A market-oriented ethnography of the nanotechnology market

Abstract

The aim of this article is to understand to what extent imaginaries can play a role in the construction of an innovative market. We conducted a market-oriented ethnography of the nanotechnology market construction process, analysing the strategies of three categories of stakeholders: consumers, opponents and promoters. The results reveal a new form of market construction: symbolic construction. In the case of nanotechnologies, this is based on two primary mechanisms: (1) the promotional mechanics of imaginaries, which favour the market through the simultaneous use of familiar and futuristic imaginaries; and (2) ‘meaning activism’, which challenges the market using dystopian imaginaries. This research advocates an interpretive approach to innovation, enriching the marketing literature on innovation and the social construction of markets; it also highlights certain managerial insights generated by this approach.