Emerging markets
6 important questions on Emerging markets
What are the marketing challenges in emerging markets ? (5)
- Sociopolitical governance : need partners
- Unbranded competition : having access to the product is more important then the brand itself
- Unequal access to resources and infrastructures (toilets in India)
- Access to data and level of marketing development
What are the two strategic options for firms when entering emerging markets ?
- Adopt a cross-market segmentation = forming and targeting segments of consumers who have similar preferences and needs, regardless of where they are from or where they are located (luxury brands, same preferences and expectations of quality and prestige)
- Highly standardized strategies with minor adaptations
Target the lowest incomes
- The Botton of the Pyramid strategy = selling cheap products to the poorest, do well by doing good (Tata Nano, Essilor glasses in India)
Marketing mix adaptations in emerging markets : the product dimension (3 points)
- Adaptation to local tastes (Kitkat matcha)
- Adaptation to existing infrastructures (yoghurts in Africa that do not need to be conserved in the fridge), tropicalized products (fridge)
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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Marketing mix adaptations in emerging markets : the price dimension (3 points)
- Strongly impacted by shipping costs & tariffs (French cars really expensive in Africa)
- Same prices than in the rest of the world to target middle-class or upper-end customers (L'Occitane au Brésil)
Marketing mix adaptations in emerging markets : the place dimension (3 points)
- Adaptation of structures of the shop (feng shui in Asia)
- Adaptation of the e-commerce distribution (Kaymu, postal system in Africa)
Marketing mix adaptations in emerging markets : the promotion dimension (2 points)
- Adaptation of the content or execution of the advertisements
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
