Developing markets, which are home to 86 percent of the world's population, not only represent the future of global commerce but present rich opportunities today. These opportunities can be seen in growing markets for luxury goods among a newly minted luxury class, entry-level automobiles and appliances for a burgeoning middle class and low-cost products for poor and rural customers. Today about half of the estimated 1.7 billion members of the "consumer class" live in the developing world and this percentage is increasing year by year.
But companies won't realize these opportunities through the market strategies that work in the markets of the developed world. In developing markets, there are no smooth superhighways, no distribution networks, and, in many cases, no electricity. These markets are younger, behind in technology (but rapidly catching up) and inexperienced as consumers. These characteristics, which can present obstacles, also create opportunities for companies with the right strategies.
Specifically the course objectives are:
- Provide students with an understanding of the unique market realities of the developing counties.
- Discuss creative and profitable market strategies that are being implemented by companies to leverage in 86% opportunity.
The course will be of particular value to students planning careers in management consulting, NGOs, foundations, and multinational companies.