Twenty-five years of conceptual and empirical research in macromarketing can be synthesized in three fundamental, complementary principles: that markets are systems, that markets are heterogeneous, and the actions of market participants have consequences far beyond the boundaries of firms. Together, these principal findings form the foundation of a theory of macromarketing. The authors argue that macro-marketing, in contrast to micromarketing and microeconomics, is uniquely positioned to address many market-related questions of the coming century.

Although multi‐unit ownership has become the dominant form of franchising in the United States, the motivations for either franchisor or franchisee to participate in these agreements continue to be the subject of debate. This study looks at the issue from the perspective of the franchisee. It is argued that some multi‐unit franchisees, especially those operating as area developers, are likely to enter the field viewing their franchise as an investment, while others, especially those operating as sequential multi‐unit operators, are likely to view their franchise as an opportunity to fulfill more personal, entrepreneurial ambitions. A study of multi‐unit franchisees of both types found that both were equally investment‐oriented but that the sequential multi‐unit operators were more likely to seek fulfillment of entrepreneurial goals. Implications for practitioners and for future research are discussed.

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