Many core marketing concepts (e.g., markets, relationships, customer experience, brand meaning, value) concern phenomena that are difficult to understand using linear and dyadic approaches, because they are emergent. That is, they arise, often unpredictably, from interactions within complex and dynamic contexts. This paper contributes to the marketing discipline through an explication of the concept of emergence as it applies to marketing theory. We accomplish this by first drawing on the existing literature on emergence in philosophy, sociology, and the theory of complex adaptive systems, and then link and extend this understanding to marketing using the theoretical framework of service-dominant (S-D) logic, particularly as enhanced by its service-ecosystems and institutionalization perspectives. Our work recognizes both emergence and institutionalization as integral or interrelated processes in the creation, maintenance, and disruption of markets and marketing phenomena. We conclude by discussing implications for marketing research and practice.