Marketing strategy in emerging markets: a conceptual framework
Citing difference between emerging and developed markets, scholars highlight need for different approaches to marketing in emerging markets. In this paper, we argue that while there are some unique characteristics of emerging markets, all countries within emerging markets do not have similar levels of product penetration and consumption. As a result, it is wrong to assume that emerging markets are untapped and under served across the product categories. To a list of characteristics identified as unique to emerging markets, we add large population as an important characteristic and discuss its strategic implications. We develop a conceptual framework that factors in combined effect of varying degrees of product penetration consumption levels with large population of emerging market countries. The conceptual framework identifies four strategic alternatives for marketing in emerging markets. Instead of recommending any generic marketing strategy, we propose that marketers need to choose an appropriate mix of strategies aimed at primary and selective demand creation in emerging markets.