Markets, Globalization & Development Review


The problems of persistent poverty have occupied the minds, money and agencies of the world for a very long time. It is the subject of a large literature in economics and sociology, and the literature has evolved through a variety of theoretical paradigms. Despite numerous initiatives the impact on alleviating poverty is marginal. Recently the poverty conundrum has attracted the attention of schools of business and global corporations. In this paper we critically review the major changes in the conventional approaches to development. Then we review three models based on the thought traditions of business schools that offer a new way of thinking about poverty alleviation. One is the BOP model of Prahalad. The second is the social marketing model. The third is a radical new model of distributed marketing networks structured around micromanufacturing, microenergy and microfinance technologies.

Author Bio

Ravi S. Achrol is Professor of Marketing Science, School of Business, George Washington University, where he also served as the Associate Dean for Research and Doctoral Studies. He was on the faculty of the University of Notre Dame, and also held the Kmart Corp. Endowed Chair in Marketing at West Virginia University. His research interests include distribution channels, marketing strategy, interorganizational relations and network organizations. Journals featuring his articles include Journal of the Academy of Marketing Science, Journal of Marketing, Journal of Marketing Research, Journal of Public Policy and Marketing, Journal of Retailing, Social Science Research, and Journal of Business Strategy.

Philip Kotler is the S. C. Johnson & Son Distinguished Professor of International Marketing at the Kellogg School of Management, Northwestern University. He has published over 50 books in marketing including the 15th edition of Marketing Management, the world’s most read book with this title. He has received 22 honorary degrees. His latest two books are Confronting Democracy: Real Solutions for a Troubled Economic System (AMACOM 2015) and Democracy in Decline: Rebuilding its Future (Sage 2016). He has keynoted at early, foundation-laying ISMD conferences in Istanbul, Budapest and New Delhi.

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This work is licensed under a Creative Commons Attribution 4.0 License.