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Strategies for Effective Local Marketing in Emerging Markets

This chapter delves into successful local marketing strategies within emerging markets, focusing on market analysis, infrastructure, pricing, and promotion. It emphasizes understanding local cultures, developing compatible objectives, and contributing to social development. The discussion covers case studies in Russia, Eastern Europe, China, and India, highlighting unique challenges such as entry barriers, distribution issues, and adapting to local preferences. By adopting a long-term perspective and providing necessary training, companies can succeed in tapping into these evolving markets.

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Strategies for Effective Local Marketing in Emerging Markets

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  1. Chapter Ten Local Marketing in Emerging Markets

  2. Local Marketing in Emerging Markets • Market analysis • marketing infrastructure, income levels, currency convertibility • Product strategy • simplified, low-cost line; some high-end opportunities • Pricing • balance between skimming/penetration, innovation required • Promotion • limited media, less clutter, importance of visual images • Distribution and Service • key factor, imagination required, personal service

  3. Emerging Markets: Success Strategies • Seek compatible objectives • Help develop local industry • Be sensitive to local cultures and values • Provide training across functional areas • Contribute to social development • Document contributions • Adopt long term perspective

  4. Local Marketing in Russia and Eastern Europe • Common conditions • basic needs satisfied, education & social control, new free market • Political and legal factors • commercial law developing, political risk, view of free market • Market analysis • Ethnic divisions, emerging segments

  5. Local Marketing in Russia and Eastern Europe (cont_) • Product and price • ambivalence about local products, low price Vs first mover decisions • Promotion • media availability, education for new products, credibility • Distribution • weak marketing and skills infrastructure, educational role

  6. Marketing in China • Entry barriers • import licenses, tariffs, currency controls, trading companies • Role of Hong Kong’s trading companies • Joint ventures encouraged • Special economic zones • Importance of personal contacts

  7. Marketing in India • Socialist era (1950-80) of market control • Liberalization (1980-present), political risk • Dual market, large emerging middle class • Resurgence of domestic brands

  8. Chapter Terms and Essay • Terms • Ethnic market segmentation, dual income distribution, Special Economic Zones, Hong Kong traders, counterfeit products, educating middlemen • Essay • How do emerging markets differ from mature and new growth markets. Using one of the three areas discussed in the text as an example, explain the challenges involved in competing in mature markets.

  9. This Bud’s for You video • What firm-specific advantages are at issue here for Anheuser Busch? for Budejovice Budvar? • What entry method did Anheuser Busch attempt to employ in this situation? Why did the firm select this approach? • How did Budejovice Budvar respond to this effort? Why?

  10. Chapter Ten Local Marketing in Emerging Markets

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