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Appropriate Innovation for Asian Emerging Markets in a Digital World: A Strategic Framework

Author

Listed:
  • George Abonyi

    (Sasin School of Management CHULALONGKORN UNIVERSITY)

  • David Abonyi

    (THAI-CANADA ECONOMIC COOPERATION FOUNDATION_ BANGKOK)

Abstract

Growth in spending in Asian emerging economies will be driven to a large extent by lower-middle income and lower-income households. They constitute a vast “2nd tier” underserved market, much of it located in smaller cities, towns, and rural areas. This study develops a framework for appropriate innovation strategy aimed at this substantial market. We identify key relevant characteristics of the leading Asian emerging economies of ASEAN, China and India; that often do not get sufficient attention. The proposed strategic framework then builds on selected examples of appropriate innovation; incorporates the potentially important role of unconventional partnership between business and social enterprise for this market; and develops the supporting role of digital technology, in particular, additive manufacturing (3D printing). We conclude by presenting policy implications of an appropriate innovation strategy, involving government-business collaboration.

Suggested Citation

  • George Abonyi & David Abonyi, 2022. "Appropriate Innovation for Asian Emerging Markets in a Digital World: A Strategic Framework," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 18(01), pages 3-21.
    • Handle: RePEc:mic:tmpjrn:v:18:y:2022:i:01:p:3-21
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