Column 15 · Global Marketing Strategy · Era 6, Engagement and Networks (2010s)
Emerging Market Strategy
Environment and context · Landmark · Cluster VI, Context
Description
Sheth argued that the characteristics of emerging markets, including market heterogeneity, sociopolitical governance, unbranded competition, chronic shortage of resources, and inadequate infrastructure, require rethinking marketing's core perspectives and practices.
Managerial Implications
Emerging markets differ structurally from developed ones: market heterogeneity, sociopolitical governance, chronic resource shortages, unbranded competition, and inadequate infrastructure. Strategies built for developed markets fail when transplanted. Managers should design for these conditions, with affordable offerings, improvised distribution, and attention to institutions, and should expect innovations developed for emerging markets to flow back to developed ones.