Successful Marketing in Emerging Markets
Successful Marketing in Emerging Markets
An Emerging Opportunity
The world is living with the promise of economic growth. But it will not come from traditional industrialized nations only. New growth will come in large part from emerging economies – from Latin America, Asia, Africa and Eastern Europe. These economies are less familiar territory for many business people. Their potential is real and their desire to achieve is strong.
Emerging markets, with a projected economic 2008 growth of 6.9% (compared to 2.1% in the developed world),1 will provide a promising arena in which the major product and service companies will compete over the next few decades2. Although business opportunities remain strong – albeit shifting to E-commerce – in the industrialized countries, the greatest economic opportunities will come from emerging countries.
Recent projections by Goldman Sachs3 indicate that the economies of Brazil, Russia, India and China alone (BRICs) will become greater those of the industrialized G6 countries in the next 40 years. The economies of these countries, plus the next 11 major emerging markets, may be larger than the G7 by 2030, with a combined gross national product of 41 trillion USD.
