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

1. Converting Nonusers to Users

Emerging markets offer the biggest growth opportunity in the history of capitalism. Unfazed by the ups and downs of the global economy, many former developing nations have transformed into lucrative markets with potential annual consumption estimated at 30 trillion USD (U.S. dollars) by 2025 (Atsmon et al. 2012). Eyeing nearly 10 trillion USD of annual revenue from just India and China, businesses have been spending billions of dollars to understand and market to consumers in these emerging economies (Silverstein et al. 2012). Emerging economies are not only transforming marketing, but they are also transforming markets all over the world by attracting multinationals, shoring up domestic firms, and launching local ...