Article
Growing the Pie in Emerging Markets: Marketing Strategies for Increasing the Ratio of Non-Users to Users
Journal of Business Research
(2018)
Abstract
Emerging markets are the growth engines of the world but they differ significantly from developed countries.
Multinationals tend to flounder in these countries due to the challenges posed by five key emerging market
characteristics: market heterogeneity, sociopolitical governance, unbranded competition, chronic shortage of
resources and inadequate infrastructure. Reducing the negative impact of these emerging market characteristics
can increase the ratio of first-time users to nonusers thereby resulting in large scale market expansion. To this
end, we propose eight marketing strategies rooted in the 4 A's framework: Affordability through democratizing
and upscaling the offer; Accessibility through managing and reinventing reach; Acceptability through cultural
and functional fusion; and Awareness through building brand identity and engaging stakeholders. Achieving
these customer-centric outcomes can help companies overcome the challenges and realize the true potential of
emerging markets.
Keywords
- Emerging markets,
- Market expansion,
- Affordability,
- Acceptability,
- Awareness,
- Accessibility
Publication Date
2018
Citation Information
Mona Sinha. "Growing the Pie in Emerging Markets: Marketing Strategies for Increasing the Ratio of Non-Users to Users" Journal of Business Research Vol. 86 (2018) p. 217 - 224 Available at: http://works.bepress.com/mona-sinha/14/