Several influences have contributed to our desire to search for an alternative paradigm of understanding market innovations. First, the current wave of globalisation is resulting into introduction of foreign products, brands, and advertising on the scene. Marketers of Indian products, especially the SME’s have to grapple with the challenge and make choices. Secondly, even global wizards are talking about culture- and country-specificity of the Marketing Mix. The interaction of alien products and the local culture of the market is going to throw up several unintended consequences, which will demand closer attention. Thirdly, we have some evidence of interaction of technology with culture in the form of Rural Marketing of consumer products - designed, and produced by modern industry - in recent times and if analysed, this evidence can give us clues to the likely scenario a few years from now Fourthly, we also have case studies in India where Indian brands competed successfully against foreign ones and though such cases have been few and far between, there is much we can learn from them. Last but not the least, in some corner of the Indian Managerial psyche lurks a feeling that ancient wisdom in India is superior to the so-called professional management. We need to deal squarely with this feeling without either glorifying it or denigrating it.