ON THE ROLE OF MARKETING THEORY .

The article addresses the theoretical approach to marketing, responding to a recent publication from Wroe Alderson titled "Marketing Behavior and Executive Action." The author begins by explaining or defining what is meant by the term "theory." In this case, the author defines it as "systematic explanation." A theory is an observable structure that works under a given set of conditions. The author explains that facts are silent; theories help us to explain how forces work together. The author presents "Reilly's Law" as an illustration of an empirical result in marketing, discusses the characteristics of a "good" theory, and defines the functionalist approach to marketing theory.