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Based on an institutional analysis, develops a political economy framework to study exchange of all types. Shows that the institutional context either encourages or inhibits various types of exchanges. Identifies four types of institutions: households, private firms, public enterprises, and government institutions. Three main types of exchanges exist between and within these institutions. These include: market exchange, redistributive exchange, and reciprocal exchange. Argues that the resource profiles of the institutions, the prevailing norms of legitimacy in the society, and the nature and strength of the control systems determine exchanges outcomes. This approach is particularly useful for understanding strategic, social, global and macromarketing processes, especially in the context of comparative marketing.

In this editorial introduction to the special issue, the authors lay out the problem of inadequate qualitative research about markets and consumers in the vast demographic‐economic space represented by Asia and present an integrative view of six articles that tackle this problematique. The aim of this editorial and the rest of the special issue is not so much to redress the imbalance of inadequate qualitative work on Asia's markets and consumers, but rather to begin to address the problem and start offering directions and suggestions that may make strides toward addressing it.

This editorial introduction presents the perspectives of the special issue editors and introduces the six articles that are part of this issue. It is a conceptual piece.

While the authors' main goal here is to summarize and introduce the work of the authors featured in this issue, they also strive to present a meta‐theoretic frame to guide future similar efforts.

The efforts of the authors in this special issue should serve as demonstrable evidence that interesting, well‐executed qualitative research on Asian markets and consumers is possible and publishable, and motivate other researchers – particularly those based in Asia – to undertake further such work.

Qualitative work on Asian markets and consumers, particularly if produced organically in Asia, would help in a rounder and more insightful understanding of this demographically enormous, culturally rich and economically rising space.

The value of this introductory piece lies in its integration of the articles in the issue, and in presenting a meta‐theoretic frame on the central problematique of inadequate qualitative research on markets and consumers of Asia.

This paper aims to explore the personal and academic growth of A. Fuat Firat as one example of his academic life.

This is a more personal history, in addition to the 2014 academic history of A. Fuat Firat

By tracing the history of the links of financialization to consumer behaviors and marketer actions in the twentieth century, this paper aims to show that consumer market phenomena are often shaped by the imperatives of finance.

The paper employs selective historical overviews, mainly focusing on the USA, of four tranches of the past century: the run up to the Great Depression; from post‐Depression to the Second World War; the post‐Second World War Bretton Woods system and its collapse in the 1970s; and the increasingly risk‐charged last three post‐Bretton Woods decades of the twentieth century.

The historical review shows that the financial sector's interest in profiting from consumer markets emerged and grew fairly early in the twentieth century, experienced some slowdown and forced retrenchment due to the military‐industrial build up prior to and during the Second World War, and re‐accelerated in the post‐Second World War period – reaching an unsustainable risky zenith by the closing years of the century.

Findings and arguments from this paper can be of value to citizen and consumer advocates seeking to bring Finanzkapital activities under popular and democratic control.

Insights from this paper should motivate us to study in greater depth how established and seemingly autonomous consumer and marketer behaviors, in the ultimate, may be guided by, and have to conform to, the dictates of financial capital.

The main contribution of this paper is an elaboration of how financial capitalism has shaped consumption styles and marketing practices in the last century.

This paper sets out to provide global business managers and researchers with perspectives, concepts, and some tools to deal with emergent late modern conditions.

Analytical discourse is employed to outline the post‐enlightenment rise of modernity and rational economics. The paper critiques the nature of business institutions and practices under modernity, and points to the new conditions of waning and late modernity. Indications and guidelines are provided about the nature of new, emergent forms of global business under conditions of waning and eclipsing modernity.

The paper finds that the membrane separating global business organizations and their consumers is dissolving, and the new “post‐consumers” exhibit increasing levels of competence in terms of business practices. The paper reveals several aspects of global business under conditions of waning, late, and eclipsing modernity: transformation of business from and arcane, professional practice to an embedded everyday cultural practice; erosion of central control and business becoming diffused; imperative for collaborative forms where business managers work alongside post‐consumers; and breakdown of hierarchic order and rise of complexity and fluidity in business practices.

The main contribution is a cogent set of concepts that enable managers and researchers to understand, examine in detail, and deal with global business practices and organizational forms under conditions of waning modernity and emerging postmodern contexts.

The purpose of this research is to explore the cultural and branding issues that have gone into the design and development of Nano – a brand name for an Indian automobile – which is a low‐priced passenger vehicle targeted toward the middle‐class Indian consumer in urban settings.

The paper provides a cultural framework for the brand initiative and its execution. Specifically, the paper uses an ethnoconsumerism approach to the issue of cultural branding.

The Nano car was conceived and executed under two narratives: an economical and affordable vehicle, and a brand appeal that would satisfy Indian cultural sensibilities.

Cultural branding is becoming a popular approach in product positioning. This research shows that an ethnoconsumerist framework is ideally suited for examining cultural branding issues.

With the emergence of global markets, new methodologies have to be employed in studying cultural issues pertaining to local conditions. Toward this end, the paper provides an application of the ethnoconsumerism approach for studying branding phenomena.

Any career is marked by luck, both good and bad, as well as by hard work interspersed by times of uncertainty, fits and starts, and learning from one's mistakes and successes. But beyond these outcomes and actions, I owe an enormous debt to people who have shaped me and made life the challenging and rewarding journey it is. My family of origin and extended family were incredibly supportive in personal and functional ways. So many mentors and teachers influenced what I know and who I am. Many students, colleagues, secretaries, computer and library staff, and group chairs and deans provided the help, inspiration, and friendship guiding my career behind the scenes. My wife, son, and daughter sustained me through times of tears and joy, as did my community of faith. All these relationships were foundational to any contributions I may have made to attitudes, social action, and theory of mind; methodology, statistics, and philosophical foundations of research; sales force, organization, and health behaviors; emotions, ethics, and moral behavior; and marketing and managerial practice. For me, my career contributions are secondary to the relationships within which I was fortunate to engage.

The purpose of this paper is to explore how art production and marketing in China is attempting to move up the value chain as increasing number of Chinese replica-selling galleries seek to break free from the image of Chinese art towns as skilled but imitative centres of art production.

In-depth interviews were conducted among seven gallery owners in Wushipu art village over three weeks to discover how art production in China has evolved and to chart its future growth.

In the Chinese setting with its distinctive cultural patterns, tensions between the emergent national pride in original art and the facile and commercial moneymaking potential of simply selling industrially produced art are revealed.

The changing dynamics of arts markets in China provide marketers and researchers a glimpse into a parallel trend: the gradual but rising shift to innovation, originality and luxury occurring in the China-based manufacturing centres of material goods.

The attempts to break from the imitative mass production of art and strike a balance between creating and meeting the art needs of the Chinese consumer indicate how domestic market priorities and economic growth are likely to serve as the new fuel for contemporary China’s socioeconomic development.

Via an interpretive look at contemporary Chinese modes of arts production and marketing, the paper revisits the antagonism between the creation of original art and the production of industrial art in a context not well-known in the west, the massive art production centres of China.

The purpose of this paper is to explore the challenges that have faced and do now face marketing scholars through the lens of one scholar who entered the field in early 1970s and who continues to observe the developments in the world and in the disciplines of marketing and consumer research.

Historical journey through the trials and tribulations of one scholar as well as the developments in marketing and consumer research as experienced from this scholar’s point of view. A story of how this one scholar’s ideas and impressions grew out of his experiences.

Challenges against introduction of new perspectives and ideas have existed in the disciplines of marketing and consumer research, and they continue to exist.

This is only a personal history of experiences one scholar has had in the field.

For marketing and consumer research disciplines to positively contribute to humanity’s growth and search for meaning, how scholars in the field think of their disciplines, their relationship to ideologies and the purposes for their existence as scholars may need a radical change.

Considering the challenges faced and possibility of alternative modes of scholarship and knowledge generation, as well as the recognition of the key positional advantage of marketing and consumer research scholars in contemporary culture for understanding the human condition, will help humanity’s quest for a world with greater peacefulness and harmony.

The paper presents a perspective of disciplinary history not often heard in the mainstream media of the two disciplines.

The purpose of this paper is to investigate how, in China, postings on social media site Weibo reflect as well as accelerate the reshaping of traditional values. As Chinese social media extend their reach outside China, the displays of visible desire, hedonism and materialism could influence global consumption ethos.

Using interpretive content analysis, over 250 Weibo postings of 8 selected Weibo users, from the network of one of the authors, were identified, coded and interpreted. The users were selected based on their frequency, variety and expressiveness of postings.

Weibo is playing a critical role in transforming Chinese consumer values. Via Weibo, personal consumption experiences are available for public gaze. Consequently, desire for powerfully signified objects and experiences is more visible; “enjoy now” is turning out to be an appreciated life attitude, and materialism and hedonism are growing irresistibly. As a result, the traditional Chinese consumer values – suppressing desire, delaying gratification and thriftiness – are losing ground in Chinese society. Also, as Weibo makes the influence of the elite as well as electronic word-of-mouth very powerful, the values of the elite and grassroots groups are actually converging instead of being separated by substantial chasms that have existed historically.

Sina Weibo had a US initial public offering (IPO) of its stock in April, 2014, and many other China-based Internet firms were getting set for US IPOs. This paper provides unique insights for Chinese social media companies’ potential global impact. Future social media contexts would be shaped by collision as well as convergence of Asia-centric and USA-centric platforms. This paper lays the groundwork for studying such interactions.

In-depth interpretations of Weibo postings contribute to our understanding of how social media impact Chinese society now and would potentially affect global societies later. This is a pioneering study on the massive influences of social media on the macro-level consumer behavior.