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

2. Creating Functional Fusion

Emerging markets are characterized by a large and growing group of middle-class consumers who are fueling the purchase of products such as automobiles, luxury goods, and electronics. Although the strategy of marketing global, standardized products keeps costs and prices down, it can alienate emerging market consumers due to differences in product form, product usage, and brand meaning. Further, variations in rules and regulations across national borders, climate, economic conditions, and political stability can add to perceived differences, making it difficult for the local population to relate to and value companies and their offerings (Calantone et al. 2004). Consumers in emerging markets are highly diverse and ...