Conclusion and Future Research Avenues
The core objective of this special issue is to advance scholarly insights into the notion of international marketing strategy, with attention directed to the distinctive nature of the construct, its drivers, outcomes and boundary conditions pertaining to emerging market firms. The articles discussed in this introduction and the manuscripts included in this special issue present a range of research themes using a variety of theoretical foundations and methodological approaches to tackle the depth and breadth of research agenda on emerging market firms’ international marketing strategies. While the articles included in this issue and those previous works analyzed in this introductory article have highlighted major research questions on how marketing strategy is practiced in emerging market firms, we provide a list of research topics that we believe needs additional scholarly attention.
First, one research question that was explored by Sheth (2011) in his Journal of Marketing conceptual piece is how marketing strategy can be implemented in largely subsistent economies. It is no secret that subsistence consumption is still prevalent in many emerging markets and it is refreshing that firms in these less developed markets are innovating in a remarkable manner to the extent that the notion of frugal innovation strategy and reverse innovation strategy have made their way into the marketing lexicon. Along this line, Radjou, Prabhu and Ahuja (2012) introduced the Jugaard innovation concept to conceptualize the idea of how emerging market firms can think frugal and act flexibly to introduce breakthrough innovations. Under-researched questions include: what are the key organizational and environmental (industry and institutional) forces that give rise to adoption of frugal and reverse innovation strategies by emerging market firms? To what extent has such breakthrough innovations from emerging market firms made their way to developed markets and what have been their success rates?