Breakout Strategies for Emerging Markets: Business and Marketing Tactics for Achieving Growth / Edition 1

by Jagdish N. Sheth, Mona Sinha, Reshma Shah

Overview

• Real strategies, tactics & solutions for succeeding in emerging markets now
• Attract non-consumers and upscale current customers
• Reflect local culture, tradition, and preferences across your business
• Make your products easier to find, buy, and use
• Strengthen your brand and deliver on your brand promises
• Engage and serve all your stakeholders
• Build a sustainable, profitable business

How big is your emerging market opportunity? Potential annual consumption will hit $30 trillion by 2025, with $10 trillion in India and China alone. Emerging economies are transforming markets worldwide–attracting multinationals, strengthening domestic firms, and launching local brands onto the global stage. Best of all, there are now proven best practices for succeeding in these markets. They’ve been developed the hard way: through the experiences of pioneers who’ve learned from mistakes and listened to their customers.

This book’s brand stories reflects these winning strategies. You’ll learn from high-profile leaders like Gillette, Levi’s, Starbucks, Alibaba, GlaxoSmith-Kline, and WeChat–and from great companies you’ll discover for the first time. Linking theory to practice, the authors offer expert guidance on attracting non-users, adapting products, aligning with local culture, optimizing channels, building brands, upscaling, strengthening relationships,
and much more.

You’ve never had an opportunity this enormous. Nobody has. Get it right–with the right advice, right from the trenches. Emerging markets offer the biggest growth opportunity in the history of capitalism. This practical guide offers a comprehensive, strategic marketing perspective tailored to these new markets. Leading experts demonstrate how companies can succeed both today and tomorrow, no matter what happens in the global economy.

Breakout Strategies for Emerging Markets integrates insights drawn from the authors’ extensive primary research worldwide, their pioneering academic research and case development, practical consulting and management experience, and their conversations with industry leaders on several continents.

You will learn about the experiences and actions of both local and global enterprises in industries ranging from consumer goods to entertainment, apparel to finance. The authors share new insights for attracting non-users by developing products, aligning with local traditions, upscaling, selecting channels, financing, brand messaging, using e-commerce, building relationships, and more.

Discover how to…

• Convert non-users: Optimize acceptability, affordability, accessibility, and awareness
• Create “functional Fusion”: Adapt products to blend western and local elements
• Design “cultural fusion”: Embed local tradition, history, language, and taste
• Democratize the offer: Make products more affordable, financially and psychologically
• Upscale the offer: Upgrade choices and experiences across the income spectrum
• Manage reach: Get your channels and supply chains right
• Reinvent reach: Leverage revolutionary channels and payment methods
• Build brand identity: Align your brand essence with your customer’s experience
• Engage stakeholders: Serve the needs of every entity you touch

Product Details

ISBN-13:	9780134434957
Publisher:	Pearson FT Press
Publication date:	07/07/2016
Edition description:	New Edition
Pages:	256
Product dimensions:	6.20(w) x 9.10(h) x 1.00(d)

About the Author

Dr. Jagdish N. Sheth has been the Charles H. Kellstadt Professor of Marketing in the Goizueta Business School at Emory University in Atlanta, Georgia (U.S.), since 1991. Prior to his present position, he was on the faculty of the University of Southern California (USC), the University of Illinois, Columbia University, and the Massachusetts Institute of Technology (MIT). He is well known for his publications on consumer behavior, relationship marketing,
competitive strategy, and emerging markets. He is the recipient of all of the top four academic awards bestowed by the American Marketing Association (AMA). He has published several professional books including, The Rule of Three, Clients for Life, The Self-Destructive Habits of Good Companies, Chindia Rising, and Firms of Endearment. All of these have been translated into multiple languages. His latest publication is the 4 A’s of Marketing.

Dr. Mona Sinha is Assistant Professor of Marketing at the Michael J. Coles College of Business at Kennesaw State University in Georgia (U.S.). She holds a PhD from Texas A&M University and was a post-doctoral research fellow at Emory University. She has brand management and sales experience in India. She also worked at the Harvard Business School India Research Center where she wrote several case studies on India. Her teaching interests are in international marketing and consumer behavior. Her research on emerging markets, sustainability, and consumer fairness/social justice has been published in several academic journals and in a book chapter. She has been the recipient of awards for outstanding performance at Harvard Business School and for teaching excellence at Texas A&M University.

Dr. Reshma H. Shah is Associate Professor in the Practice of Marketing at the Goizueta Business School of Emory University. Her marketing insights and strategies have helped companies like Delta, GE, IBM, Solvay, The Coca-Cola Company, Turner, and UPS, among many others, improve their marketing ROI.
Her articles have appeared in several academic journals in the areas of marketing alliances and brand extensions and she is the co-author of a best selling book on Social Media. She is also the recipient of the Distinguished Educator Award at Emory University.

Table of Contents

Contents

Chapter 1 Converting Nonusers to Users

References

Chapter 2 Creating Functional Fusion

Adapting to Climate

Considering Genetic Differences

Overcoming Infrastructural Limitations

Incorporating Local Essence

Aligning to Regulatory Requirements

Capital Markets and Banking in Emerging Markets

References

Chapter 3 Designing Cultural Fusion

Incorporating Traditions

Using Local Languages

Considering Social Norms

Respecting Faith

Understanding Sensory Preferences

References

Chapter 4 Democratizing the Offer

Reducing Economic Barriers to Purchase

Overcoming Noneconomic Obstacles

to Purchase

Achieving Reverse Innovation

Extending Product Value

Developing Creative Financing

References

Chapter 5 Upscaling the Offer

Adding or Changing Packaging

Positioning

Enhancing Services and Benefits

Reversing the Brand Lifecycle

Leveraging the Country of Origin

References

Chapter 6 Managing Reach

Adapting to Traditional Channels

Navigating Indigenous Channels

Developing Channel Partnerships

Building for Access

Managing Channel Ownership

References

Chapter 7 Reinventing Reach

Modernizing Retailing

Setting Up E-Commerce

Accessing Self-Service Technologies

Enabling Payments

Providing Financing

References

Chapter 8 Building Brand Identity

Establishing Product Knowledge

Identifying Sources of Communication

Developing Appropriate Messaging

Using Traditional Channels of Communication

Leveraging New and Unconventional Media

References

Chapter 9 Engaging Stakeholders

Educating Consumers and Markets

Involving Communities and Leaders

Engaging Employees

Co-opting Suppliers

Developing Partnerships with Public, Private, and

Nonprofit Companies

References

Chapter 10 Connecting the Dots

Overcoming Emerging Market Challenges

The Way Forward

References