I. Innovation Disruption and the Imperative of Curative Marketing
More than 7 decades ago, Joseph Schumpeter regaled us with the concept of creative disruption. He presented successful innovation as only temporary market power, threatening the profits of old firms, yet facing the pressure of new competitors beginning to commercialize their own inventions. Such cyclicality was taken on in greater detail by various subfields in business and society and delivered high explanatory value. Consider the “wheel of retailing” which Stanley Hollander described in the late 1950’s with firms starting at the bottom of the wheel and moving up in terms of services and pricing until they are transitioned out from the wheel by more efficient competitors. Today, the disruption has become more broad scoped with new entrants and their disruptions coming not just from the same industry or even from similar business models.
Picture Source: ChinaDaily- Cracks appear in the Great Firewall of China
“God created the world, the rest was made in China,” sings Lourd de Veyra. The concern about the Asian factory has lingered for decades. Overlooked has been its gradual strategic transformation from imitator to integrator, or even innovator.
Will China overtake the U.S. and become the new No.1 economy of the world? This anxiety seems as misplaced as earlier forecasts such as Japan’s economy surpassing the U.S. by 2000.
The recently concluded 2014 American Marketing Association Special Interest Group conference on the Honorable Merchant and International Marketing was a great success! We had an excellent turnout of 30 participants representing nearly every continent at the Dreams Resort and Spa hotel in Cancun, Mexico. The 2014 conference was held from Wednesday, April 16th to Saturday, April 19th. The diversity of international participants cultivated unique research topics on the area of the Honorable Merchant and allowed for stimulating discussion to ensue. Research papers ranged from comparing Marketers to the Devil to cheating at Universities and Honorable practices for sustainable cocoa supply. The participants completed three rounds of Delphi Questionnaires on a wide range of topics. The results will be published later this year.