Successful companies are citizens of many countries, rather than one. International Marketing takes place all around us every day. With faster communication, transportation and financial flows, the world is rapidly shrinking.
Most of the world’s growth these days is occurring in emerging markets. Many countries perceived to be volatile and risky have reformed and liberalized. Once thought of as backward and “low tech”, these countries are rapidly transforming their economies. Thethird world is becoming world class.
Mc Kinsey estimates the annual consumption of these countries to be 30 trillion US dollars by 2025. Shanghai’s GDP ($527 billion) is same as Switzerland’s ($ 527 billion) and Guangzhou’s ($357 billion) is larger than Denmark’s ($ 310 billion). With developed markets having low growth and high production costs, focus has already shifted to addressing the challenges and exploiting the opportunities in emerging markets. This is the biggest growth opportunity in the history of capitalism.
2. Students learning outcomes:
· Enables the students to identify the indicators of opportunity and address the causes for complaint-important features of many emerging markets. · To understand what marketing mix adjustments will be necessary for capturing these markets’ vast potential · Understand what are the market entry modes and · Finally, zeroing in on the road map for strategy and execution. 3. Required Text books and Reading Materials:
· Doing Business in Emerging Markets by Cavusgil, Ghauri and AKCal : Sage Publications · Winning in emerging markets – TarunKhanna and Krishna Palepu 4. Tentative Session Plan:
Quizzes ( 02 ) : 20%
Midterm : 30%
End term : 40%
Total : 100%