Characterizing Market Turbulence Today as a Source of Market Opportunity

Abstract

Executive Summary

The stable and predictable agricultural, infrastructure, manufacturing, and energy economies of hard products have been followed by economies that offer softer products such as services, information, knowledge, health care, digitization, networking, globalization, entertainment, sustainability, and currently, well-being and happiness. Such soft market products are loaded with buyer–seller information asymmetries (BSIA) that create market risk, market uncertainty, market chaos, and ambiguity – all of which are specific types of market turbulence. In this context, this chapter investigates the phenomena of turbulence, specifically environmental turbulence whose major subsets are technological turbulence and market turbulence. We cite several recent geopolitical variables and events that have aggravated market turbulence such as Chinese economic invasion of global markets, global climate change, Brexit, international asylum-seeking migrations, artificial intelligence, and demonetization. We also define market turbulence as varied forms of BSIA for which both marketers and consumers must have appropriate joint responsibility. In addition, we focus on ethical and moral marketing responsibilities for reducing BSIA under each type of turbulence.

Citation

Mascarenhas, S.J., F.O.A.J. (2018), "Characterizing Market Turbulence Today as a Source of Market Opportunity", Corporate Ethics for Turbulent Markets (Corporate Ethics for Turbulent Markets), Emerald Publishing Limited, Leeds, pp. 11-44. https://doi.org/10.1108/978-1-78756-187-820181002