Businesses encounter many questions when expanding their product or service into unfamiliar territory, as emerging markets are unique and a well-developed strategy is imperative for success.As a market research provider, we help businesses identify key markets for successful expansion, using our in-country analysts across the globe to understand market dynamics and behaviours.
In addition to product and service-related market trends and insights, socio-economic research helps companies identify appropriate markets for their business by looking at population, demographics and business environment - identifying regional business regulations, corruption, economic stability and human capital. It is also important to assess the ease of doing business and distribution capabilities in regards to getting products and services to consumers. The more a company can learn about a particular region, the better their market entry selection, and the more successful their marketing strategy.
If you’re looking to expand into an emerging market but are unsure of what steps to take first, some of our most useful resources for emerging market strategy can be found via the links below.
1. [Infographic] How to Succeed in Emerging Markets
A packaged food company was looking to expand its Asian operations beyond China. Our four-pillar model offered methodological clarity to the process of market selection and the business was able to compare a range of countries in a systemic fashion.
2. [White Paper] Succeed in Emerging Markets: Selection, Strategy and First Steps
All markets are not the same; each has unique challenges and opportunities. Too many companies fail to do their due diligence regarding pre-market entry and then pay the price in poor sales and unforeseen complications and costs. Download this white paper to learn about our four pillar model for selecting new markets.
3. [Video] 5 Things to Know about Consumers in Emerging Markets
Despite current challenges, emerging markets will still be driving global consumer market growth. Success in emerging markets requires a thorough knowledge of consumers in each target market. There are huge variations in terms of tastes, motivations, attitudes, incomes and spending patterns; so making assumptions based on knowledge of one single market can lead to costly mistakes.
4. [White Paper] Emerging Markets During Crisis: Business Strategy in Times of Uncertainty
This white paper supports companies operating in emerging markets during economic crises. From convenient and indulgent purchases to transparency, nostalgia and status, this document explores key trends to watch that offer organizations growth opportunities.
5. [Podcast] Five Things to Know about Getting Goods from A to B in Emerging Markets
Distribution in emerging markets is no easy task. From infrastructure deficits, to direct distribution and village entrepreneurs, there is a lot to take on board. Multinationals such as Cussons, Nestlé, Coca-Cola, Unilever and P&G all provide insights into different approaches in this podcast.
6. [Article] The Rich World of Emerging Markets
High-income earners in emerging economies are a diverse group and what constitutes a high income is dramatically different across countries. The relative wealth of the highest earners, when compared to low and middle income consumers within their own countries, can also be poles apart. Winning over this group can be crucial for market success particularly in categories such as transport, education and hotels and catering where they dominate consumer spending.
7. [Article] Driving Middle Class Growth in Emerging Markets
Some of the most crucial foundations of middle class growth in emerging markets include economic growth, increased productivity, an attractive business environment, female labour participation, urbanisation, increasing educational attainment and the establishment of a social safety net. Looking at the world’s 10 largest emerging markets (measured in PPP terms) we see stark differences in these drivers of prosperity.