What is Cosmo-Localism

This chapter describes the interplay between marketing and innovation, between the “emergent marketing paradigm” and open innovation, and at a further level, between “sustainable marketing paradigm” and post open innovation, not to mention how these two disciplines provide ground for each other in increasing market share, boosting firm performance and producing value-added results for society. Over the last decade, both marketing and innovation have been navigating into a new phase. The third wave of open innovation, together with the “sustainable marketing paradigm,” heralds a profound change concerning how sustainable value is created through open value networks (OVNs) in a post-innovation era.