Research Opportunities in Emerging Markets: an Inter-disciplinary Perspective from Marketing, Economics, and Psychology

Abstract

Emerging markets are fast-growing developing countries that are creating not only a rapidly expanding segment of middle class and rich consumers but also have a sizable segment of Bpoor^consumers. This paper presents an inter-disciplinary perspective integrating insights from quantitative and behavioral marketing, social psychology, industrial organization, and development economics with the purpose of generating and answering research questions on emerging markets. We organize our discussion around three themes. First, there is substantial heterogeneity in the social, cultural, economic, and institutional environments as well as rapid change in these characteristics. Coupled together, the heterogeneity and dynamics increase the scope of variables and interrelationships that have traditionally been investigated. Second, emerging markets continue to have sizeable Bpoor^and rapidly growing Bnew rich^populations, requiring marketers and researchers to understand how to market to the poor and the Bnew rich.^Exploiting these features in research can help deepen our theoretical understanding of markets and marketing. Third, from a methodological perspective, differences in types of available secondary data and the lower cost of collecting primary data create opportunities to develop new approaches for addressing research questions. We also encourage scholars to move beyond crosscountry regressions offering broadbrush exploratory insight, to country-industry-specific research that exploits unique characteristics of a particular emerging market. This article emerged out of presentations and discussions among the authors in a session titled BEmerging Markets^at the 9th Invitational Choice Symposium hosted by Erasmus University in the Netherlands in 2013.

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