The 2014 Gun and Einar Larsson scholarship (GELS) has been awarded to Johannes Meder and Adam Novak, both students at the Stockholm School of Economics, for their project on developing a set of marketing techniques in Kyrgyzstan.
The goal of the project is to adapt western marketing techniques to the characteristics of the bazaar economy, thereby developing a set of marketing tools that help creating win-win situations for both the buyers and the sellers.
The scholarship provides Johannes and Adam, both students at the specialization in International Business, with the opportunity to better understand how transactions in bazaar-like environments are carried out, how the anticipated information asymmetry in transactions leads to market imperfections and what tools are required to overcome inefficiencies.
− From an economic perspective, the bazaar has always been the stereotypical form of a market place. In addition, a significant number of people from South America, through Africa and all the way to Asia still use the bazaar as the main platform of economic interaction. It is exciting to find out how we can create value for the people engaging in bazaar transactions by applying our business knowledge in such a culturally different context, to help those economies to become more mature and to grow further by mastering new challenges in an unknown environment, says Johannes Meder.
− It is the Jayma Bazaar, the largest outdoor market in Central Asia, that will be in the center of our focus and we cannot wait to ‘’teleport’’ ourselves for three weeks from Stockholm to Osh, where the earliest trading that humankind developed is still ’business as usual’, says Adam Novak.
Stockholm School of Economics’ president, Karl-Olof Hammarkvist, who appointed the scholars, acknowledges that:
Johannes Meder and Adam Novak have created a challenging, hands-on project, with a strong focus on personal development through cultural interaction. Both the chosen destination as well as the topic promise a very different experience and demonstrate creativity and deep interest. Moreover, their application of western theories and methods in a completely different setting opens a doorway to valuable insights into diverse business practices.
The Gun and Einar Larsson Scholarship offers outstanding students at Stockholm School of Economics the opportunity to create and realize innovative projects abroad according to their own design. The aim of the scholarship is to offer experience and personal development outside of the academic realm that benefits the student’s education and professional aspirations.
For more information, please contact:
Johannes Meder, GELS scholar 2014, tel. 072-034 57 91
Adam Novak, GELS scholar 2014, tel. 076-289 92 56