Market Entropy: How to Manage Chaos and Uncertainty for Improving Organizational Performance
…marketing is a science. Large markets face entropy over time and fragment. Companies undergo this phenomenon but it has not been explained so far in marketing scholarship. This book examines the causes and effects of market entropy, and makes its worth to readers. An intellectual contribution for all…”—Vijay Govindarajan, Coxe Distinguished Professor, Tuck School of Business, Dartmouth, NH
Market entropy is not only an interesting topic, but is a fundamental concept that affects all aspects of business including finance, economics, marketing, accounting,
and management. This book provides a comprehensive background in the topic and includes useful managerial lessons. Based on scholarly research and years of market place experience, this informative and valuable book explains the evolution of large markets and their connection to radical innovations and technologies.”—Anjala S. Krishen Professor, Marketing & International Business, and Co-editor, Journal of Marketing Analytics University of Nevada, Las Vegas, NV
This book discusses competitive market dynamics explain contextual market entropy caused because of swift changes in the innovation and technology scenarios. It delineates the attributes of cognitive ergonomics of consumers responding to the market dynamics under the shrinking scenarios of large markets. The author analyzes the emerging theory of chaos, fragmentation of markets, and agile business models to gain advantage in the competitive marketplace and deliberates upon factors that are critical to success of firms. In addition, this book presents new in sights on developing hybrid business models using both aggressive and defensive marketing strategies to manage market chaos and behavioral complexities of consumers.