Resonance between Innovation and Consumers: Suggestions for Emerging Market Customers
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Date
2012-04
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Publisher
Chitkara University Publications
Abstract
Consumption increase in emerging markets is significant for global sustainability as it helps in overcoming structural impediments that impede investment inducement. In this light, the paper aims at demonstrating a hypothesis that resonance between innovation and consumers triggers co-emergence of investment essential for an emerging market and further analyses resonant behavior between attractive goods and consumers. The elevation in face temperature of consumers looking at attractive goods was measured at the event corner of a Japanese supermarket by utilizing thermography. Noteworthy findings obtained include that consumer temperatures increase as they perceive, recognize and decide to purchase attractive goods while elevated temperatures decrease when the goods are not attractive enough to purchase. Consumer couples also incorporate a general tendency to converge toward the same decision in a resonant way. Through correlation analysis of sales records, it was demonstrated that sales of attractive goods represents innovation which increases by resonating consumer demand through construction of a spirally developing virtuous cycle. These findings provide a constructive suggestion for stimulating latent consumer vitality in emerging markets as a way of inducing investment.
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Keywords
Resonance, innovation, co-emergence, emerging market, consumers, emerging consumer