International Marketing
Submitted by misselewa on January 18, 2008
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Chapter 9
Emerging Markets
The developing world is seeking economic growth and improvement of living standards; people want to be part of the successful global consumer world. There are changes happening in the economies of developing nations, as market-driven economies continue to rise, and we see shifts in political structure, increased privatization and changes in investment policies take place.
There are three multinational regions that compromise the major trading blocks and they are Europe, the Americas, and the rapidly growing Asia. However, other nations across the globe are striving to become like their role models through economic and social reconstruction.
Economic development is the increase in national production that results in an increase in the average per capita (per head) gross domestic product, or GDP. For developing countries, this idea presents a challenge. First of all we have to study the aspects needed for growth and consider the general economic climate within such countries, and secondly, we must study the state of economic development with respect to market potential.
In dynamic economies, consumption patterns change at a very high rate, therefore marketing is continuously challenged with detecting and providing for new levels of consumption and the changing market needs and wants.
Let us take a look at the stages of economic development, before going in depth about the effects of these emerging markets on international marketing research.
Stages of Eco ...