Int Marketing Ch 9: Economic Development and the Americas

Marketing in a Developing Country
a marketer cannot superimpose a technically elegant marketing strategy on an undeveloped country. Must be keyed to each situation, custom-tailored for each set of circumstances.
cont.
Pricing in a subsistence market poses different problems from pricing in an affluent society
Level of Market Development
the more developed an economy, the greater the variety of marketing functions demanded, the more sophisticated/specialized the institutions become to perform marketing functions.
Demand in Developing Countries
Estimating market potential and devising useful segmentation strategies in less-developed countries involves challenges.
cont
the companies that invest when it is difficult and initially unprofitable will benefit in the future from emerging markets.
Big emerging markets
researchers predict that imports to the countries (BEMS) with half the world’s population will soon be 50 % of the industrialized world.
BEMS
geographically large, significant populations, sizable markets for a wide range of products, regional economic drivers.
Strategic Implications for Marketing
as a country develops, income changes, population concentration shift, expectations for a better life adjust to higher standards.