An Audience Heterogeneity View of Markets: Contributions, Tensions, and Agenda for Future Research

Producers’ resource allocation, performance, and survival depend on how market audiences identify, evaluate, and value them. While research has focused on producers’ heterogeneity, it has not consistently addressed audiences’ heterogeneity despite its critical consequences on producers’ decisions and market dynamics. This review integrates three research perspectives—ecological, socio-cognitive, and optimal distinctiveness—to offer a clearer comprehension of audience heterogeneity. It distinguishes between-audience heterogeneity from within-audience heterogeneity and regroups existing but scattered findings under two audience heterogeneity dimensions: audience plasticity and audience multiplexity. Avenues for research build on these distinctions and underscore the relationships between audience heterogeneity and market temporality, individual reactions (e.g., rooted in ideology and emotions), and technology (in particular AI-enhanced categorization).