In his emerging markets talk, Dr. Nirmalya Kumar explains varying routes developing brands can take to boost their business and expand globally.
The speaker developed eight different paths for market firms to become global brands. Before delving into three of these paths, the emerging markets talk identifies two obstacles all emerging brands will face. First, that Western consumers are often unaware of brands in emerging markets and it is very expensive to raise awareness. Secondly, even if they are aware of an emerging market brand, they immediately assume low quality, unreliability, environmental unfriendliness and poor value for money.
The paths outlined in the emerging markets talk are all designed to overcome these obstacles. When explaining the Diaspora strategy, the speaker discusses types of immigrants. The Cultural Resources route is about leveraging unique and positive aspects of culture, where as the Natural Resources option involves defining a geographical region, product specification, authentication and international branding.