Chaos Theory: Marketing & Management Implications

On the basis of an extensive review of the literature, the authors present chaos models and principles that explain how products, firms, and industries coevolve in a worldwide market web of connectedness. The concepts and models developed are explained in terms of current marketing and management issues. The focus is on innovation as an autocatalytic process that generates multiple market niches. Critical factors to firm success include diversity, redundancy, independency of operational units and the timely deployment of multiple marketing strategies. The authors hope that the models, metaphors, applications and cases presented will stimulate further examination of marketing issues within a framework of the theoretic principles of chaos theory.