Building Brands in Emerging Markets Essay Example for Free

Building Brands in Emerging Markets Essay 1.Briefly State the Main Idea of the Article. The main idea of the article is to explain the entry barriers that new products need to handle in emerging markets that in developed markets. The existence of different kind of channels available to promote their product and expand the awareness. The main three factors discussed in the article are: Word of mouth, in store experience and initial brand consideration. But, there are other factors that also can play a major role in the growth of a product in any market as is the geographical location of the product. In developed countries where access to internet and TV it is not limited, the media marketing plays a big role in the awareness of the product because this might be the first approach to early adapters or new consumers of the product. While in countries where access to internet or a TV is limited, the product only can rely on the Word of Mouth. 2.List Three important Facts That the Author Uses to Support the Main Idea. Word of mouth: This channel it is the most important for a new product in a new market, because it depends of the feedback is given by friends, relatives to the consumer. The in store experience: this is when the consumer has the first interaction with the product and that influences the final decision of the consumer. The initial brand consideration: This factor does not play a big role compared with the other two but is a factor to be taken into consideration for future product in order to expand the awareness of their product. 3.What Information or Ideas Discussed in this Article are Also Discussed in your Textbook, Discussion or Other Readings that You Have Done. Understand the Global Marketing Environment taking into consideration the different stages of the market. The different stages of the market in this article can be described as the low, high, upper level income of the countries where the access to media communication can be a crucial factor in order to expand the awareness of any product. Also, the social and cultural environments play a big role in the marketing plan of a product in emergent and developed markets, understanding these two environments will benefit the product in order to understand how to target a specific group of customers adding value to their needs. 4.List Any Examples of Bias or Faculty Reasoning That You Found in the Article. In my personal opinion I believe that the article does not have any faulty reasoning, I believe they are giving their feedback through their point of view, but I will like to address that most of the times developed countries fail to develop marketing strategies in emerging countries, for example they focus in marketing their product through TV in countries where the abstention to buy new products promoted through TV or web is low, they need to bring new strategy ideas in order to market their product in other countries. 5.List Any New Terms/Concepts That Were Discussed in the Article and Write a Short Definition or Commentary. Word of Mouth: this concept it is not new for me I understand what it means but I think it is a crucial factor in order to buy something new for me. For example when I started with the mountain biking, I was the emergent consumer to the market but thanks to my friends I was able to decide which where the best bicycles for me considering my budget, as well the accessories required helmet, gloves, cleats etc. (this is an opposite example but I think it works to explain that word of mouth is a major player when marketing and expanding products)