Article: Building Brands in Emerging Markets www.mckinseyquarterly.com/Building_brands_in_emerging_markets_3016
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.
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.
What Information or Ideas Discussed in this Article are Also Discussed in your Textbook, Discussion or Other Readings that You Have Done.
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