Dr. S.P. Raj – Session Chair
Dr. Jagdish Sheth – Moderator
Dr. Anand Jaiswal, Mr. Munesh Makhija, Dr. Jagdish Sheth – Panelists
The Snyder Innovation Management Center presented a special session on Emerging Economy Innovation: Research Opportunities and Challenges at the 2022 AMA Summer Academic Conference, Chicago August 9.
The panelists – Dr. Anand Jaiswal (Indian Institute of Management Ahmedabad), Mr. Munesh Makhija (Former CEO, GE India & China Technology Centers), and Dr. Jagdish Sheth (Emory University) discuss various aspects of innovation in emerging economies from both academic and industry perspectives.
There are three major areas of innovation in emerging markets. First, converting unbranded consumption to branded consumption and from unorganized to organized distribution. Second, digital leapfrogging to smartphones, online payments, social media, and cryptocurrency. Finally, innovation in emerging markets requires a focus on societal issues such as climate change, poverty, skill development, and healthcare. In recent years emerging economies such as India have become a fertile ground for developing frugal innovations. The products and services developed out of these strategies offer acceptable quality and performance to consumers at dramatically low costs. Theoretical frameworks for developing frugal innovation-based strategies are critical. Serving low-income consumer (LIC) segments in emerging markets can be very profitable because these segments are highly populous. Several factors affect the acceptability, awareness, availability, and affordability of new products for LIC segments. Specifically, marketing innovations (e.g., packaging, pricing, distribution) are also critical to innovation adoption by such low-income consumers. Finally, based on industry experiences with GE India & China Technology Centers, learnings and insights on innovating in emerging markets that embrace market realities, leveraging global & local innovation, and reverse innovation are shared.
2022 AMA Summer Academic Conference, Chicago August. 9-14
Emerging Economy Innovation: Research Opportunities and Challenges
Session Chair:
Dr. S.P. Raj
https://whitman.syr.edu/directory/showInfo.aspx?nid=spraj
Moderator: Dr. Jagdish Sheth (Emory University)
Panelists:
Dr. Anand Jaiswal (Indian Institute of Management Ahmedabad)
https://faculty.iima.ac.in/~akjaiswal/
Mr. Munesh Makhija (Former CEO, GE India & China Technology Centers)
https://www.linkedin.com/in/munesh-makhija/
Dr. Jagdish Sheth (Emory University)
https://goizueta.emory.edu/faculty/profiles/jagdish-n-sheth
https://www.jagsheth.com/