Marketing Strategy for Establishing Presence in Emerging Markets

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Section I Establishing presence in Emerging Markets Marketing strategy is an important aspect of any business's sales and long-term success. As outlined by Ataman et al. (2010), it is the entire marketing mix that has an impact on the performance of mature brands in the long term. One of the factors in the marketing mix is the place. For mature businesses, it is extremely important to explore new locations and opportunities for resources and expansion. Oviatt and McDougall (1994) elaborate that while there are organizations that operate on the International level since inception; there are others for which it is really important to explore new ventures. The authors present a framework for this purpose in which they identify four elements that are important for multinational enterprises. These characteristics include internalizing some transactions, relying on alternative governance for accessing resources, establishing advantages through foreign locations and gaining control over unique resources. Emerging markets are proving to be the center for new ventures because of the opportunities, unique resources and facilities they have to offer. Other than the physical resources and legal facilities, as outlined by Catorelli and Goldberg (2009), there has also been immense globalization of banking because of which local as well as foreign owned banks are increasing their exposure for cross-border funding to increase opportunities for capital, rather than just concentrating on

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