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

Book Description

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

  • Table of Contents

    1. About This E-Book
    2. Title Page
    3. Copyright Page
    4. Praise for Breakout Strategies for Emerging Markets
    5. Dedication Page
    6. Contents
    7. Acknowledgments
    8. 1. Converting Nonusers to Users
      1. References
    9. 2. Creating Functional Fusion
      1. Adapting to Climate
      2. Considering Genetic Differences
      3. Overcoming Infrastructural Limitations
      4. Incorporating Local Essence
      5. Aligning to Regulatory Requirements
      6. References
    10. 3. Designing Cultural Fusion
      1. Incorporating Traditions
      2. Using Local Languages
      3. Considering Social Norms
      4. Respecting Faith
      5. Understanding Sensory Preferences
      6. References
    11. 4. Democratizing the Offer
      1. Reducing Economic Barriers to Purchase
      2. Overcoming Noneconomic Obstacles to Purchase
      3. Achieving Reverse Innovation
      4. Extending Product Value
      5. Developing Creative Financing
      6. References
    12. 5. Upscaling the Offer
      1. Adding or Changing Packaging
      2. Positioning
      3. Enhancing Services and Benefits
      4. Reversing the Brand Lifecycle
      5. Leveraging the Country of Origin
      6. References
    13. 6. Managing Reach
      1. Adapting to Traditional Channels
      2. Navigating Indigenous Channels
      3. Developing Channel Partnerships
      4. Building for Access
      5. Managing Channel Ownership
      6. References
    14. 7. Reinventing Reach
      1. Modernizing Retailing
      2. Setting Up E-Commerce
      3. Accessing Self-Service Technologies
      4. Enabling Payments
      5. Providing Financing
      6. References
    15. 8. Building Brand Identity
      1. Establishing Product Knowledge
      2. Identifying Sources of Communication
      3. Developing Appropriate Messaging
      4. Using Traditional Channels of Communication
      5. Leveraging New and Unconventional Media
      6. References
    16. 9. Engaging Stakeholders
      1. Educating Consumers and Markets
      2. Involving Communities and Leaders
      3. Engaging Employees
      4. Co-opting Suppliers
      5. Developing Partnerships with Public, Private, and Nonprofit Companies
      6. References
    17. 10. Connecting the Dots
      1. Overcoming Emerging Market Challenges
        1. Market Heterogeneity
        2. Sociopolitical Governance
        3. Unbranded Competition
        4. Shortage of Resources
        5. Inadequate Infrastructure
      2. The Way Forward
        1. Impact on Multinationals
        2. Impact on Local Companies
        3. Mindful Consumption
      3. References
    18. About the Authors
    19. Contributors
    20. Index