Cartography of Gray Market: Antecedents, New Insights and Future Agenda

Aries Heru Prasetyo, Jersan Hu


The gray market is completely complex phenomenon. Even scholars named it gray, but mostly, colorful-rainbow has shed the color. Multi-dimension perspectives are required to analyze the best possible solutions. The study shared three objectives toward the full cartography of the market, posited by addressing two fold questions: (1) what would be the antecedents for gray market and (2) how each antecedent are dealing one another to create systemic thoughtfulness. Using combined research method, the study analyzed 53 popular published manuscripts including three classic-papers from the era of late 50’s. Using analogy of archipelago, the gray market consists of six major concerns, ranging from economy, law, politics, international business, psychology, and management. From discussion section, the study proposed a new insight on the theme. Analyzing the gray market phenomenon should began with research objectives. If the aim was to formulate proper strategy in dealing with gray market, then true combination of perspectives between supply and demand sides should be used. Lastly, the study enclosed with posing five propositions for future agenda.

Keywords: gray market, knowledge, macro factors, network strategic management

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