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

Abonyi, George and Abonyi, David (2022) Appropriate Innovation for Asian Emerging Markets in a Digital World: A Strategic Framework. THEORY METHODOLOGY PRACTICE: CLUB OF ECONOMICS IN MISKOLC, 18 (1). pp. 3-21. ISSN 1589-3413 (print); 2415-9883 (online)

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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.

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