BU491 Chapter Notes - Chapter 2: Harvard Business Review, Emerging Markets
Document Summary
Mnes will need to enter emerging markets, such as china and india, as they search for growth. The middle class market in emerging countries has been deprived of choice and is now hungry for consumer goods. New era of product availability and choice. Consumers are experimenting and changing their choices rapidly. Income levels in the us that define different economic classes is very different than those in india. Rethink the price/performance equation: consumers in emerging markets are more focused on this equation than us customers. Rethink brand management: what works for branding in one country won"t work for another country. Rethink the cost of market building: introduce a new product category; may take a lot of money and effort to convince new consumers that this product is worth purchasing. Changing developed habits is difficult and expensive. One of the biggest regrets can come from not investing in distribution before entering an emerging market.
