Marketing in the Third World - Article Example

Marketing in the Third World The third world nations are the developing members of this world. These countries have recently joined the bandwagon oftrade, economic upheaval and recovery within the financial domains. Some of them are yet to gain a considerable place within these ranks and a number of them have already made it big. However the third world has an exciting potential within its folds as well as a prosperous tomorrow if it could curb on its instinct to remain within the weak areas and exploit the stronger ones. There are a lot of opportunities that are waiting for the third world nations, more so within the outsourcing and trade industries and if proper measures are taken and that too in a quick manner, it would not be long before the divide between the third world and the already developed countries is a huge one. When the discussion centers its focus on the marketing tangents within the third world nations, one finds that the booming economies of the developing countries brings to light the core issues of marketing, public relations, direct access to customers and other marketing outlets on a consistent level. This is because marketing has attained quite a significant role within the domains of the local businesses which are existent within these nations. With the changing global scenario and the technological thresholds coming to the fore, marketing has attained quite an important place within the whole area without any shadow of a doubt. Also new products which were just a norm within the developed nations have come to the front within the third world countries and thus marketing has had a pertinent role to play within the developing economies. Marketing within the third world has come out as a challenge for the different multinational companies because these organizations have seen pretty different perspectives both from the state as well as from the people, who are the direct beneficiaries of these multinational organizations. The marketing so done is indeed to benefit these people alone but at times consumer rights movements for one reason or the other have marred the whole infrastructure and indeed the business operations within the local domains for the multinationals. Thus the third world has posed quite a few headaches for the top companies when it comes to making the decision towards the third world countries or stick within the realms of the already developed nations. The consumer reaction could change any moment but then again this is pretty different to what these multinationals could expect in the developed countries where there are proper protests and demonstrations, all of which are lodged in a civilized manner. The riots that usually take place within the third world countries due to branded products and the like are unheard of within the developed countries and thus this aspect has gained quite a lot of weight in the related discussions. Another significant consideration for marketing within the third world is of the ethical norms and the lack thereof. The ethical procedures that are implemented and made use of within the developed nations at times become a laughing stock within the third world nations due to the fact that their people are not properly educated and they have had less exposure at the hands of the multinational organizations. This is a serious pointer within the subject of marketing within the third world countries because seriously unethical and immoral marketing and advertising messages would become a usual norm within such locales and this would hamper their growth in a proper and adequate way. The society has a direct bearing on the way the marketing aspects are treated within any third world nation and thus the role of the marketing regimes becomes all the more pertinent in such situations. They have to play a parent role in devising strategies that could spark trouble and unrest within the third world nations as well as create controversies for the mere pleasure attached with their existence. Since labor is cheap within the third world nations, there is emphasis on getting more work done at a low rate. This asks for the parents to induct their children into early work practices and thus encourage child labor in a way. They give up education and try their best to work so that they could make both ends meet for their respective families. This indeed is a clear instance of slave labor that one might come to think of. Marketing within the third world countries is dependent on such labor regimes in place and nothing better could be thought of as an alternative for the people who are going through such ordeals since time immemorial. World Trade Organization or WTO has always looked at reducing the subsidies and quotas on imported farm produce, automobiles, machinery, industries and textiles. WTO has looked after the intellectual property rights, multinational organizations' rights and other related avenues which come under the auspices of the trading regimes scattered all over the globe. WTO has brought a vision of having global prosperity when it comes to exchanging trade links and related mechanisms and thus every effort is made possible to expand the trade interchanges happening in different nook and corners of the world. Thus marketing within the domains of the WTO has become an even important force since WTO keeps a stern check on the way marketing activities and strategies are devised and eventually implemented within the third world fraternity of nations. Lastly, how marketing is affected by corrupt governments in the respective nations is a quintessential aspect here nonetheless. This is because the corrupt governments demand their 'share' within the revenues and earnings of multinational enterprises and devises ways and means through which operations could be brought to a halt if their demands are not fulfilled in a proper and swift manner. The organizations usually bow down because they have no other alternative to resort to and hence continue with their money making exercise by giving a particular share to the corrupt governments in place. All said and done, marketing within the third world is not an easy proposition to start with and there are a number of hurdles, obstacles and pressures that multinational companies must be ready to face if they decide to make it big within such developing countries. Bibliography Bennett, Roger, Blythe, Jim & Alder, Harry. International Marketing: Strategy Planning, Market Entry & Implementation. Kogan Page, 2002 Johnson, Denise M. & Kaynak, Erdener. Marketing in the Third World. Routledge, 1996 Brady, Marybeth. Effects of culture on international business and trade: The marketing of infant formula in third world countries, 1986 Krasner, Stephen D. Structural Conflict: The Third World against Global Liberalism. University of California Press, 1985 Hill, Charles W.L. MP International Business: Competing in the Global Marketplace. McGraw-Hill/Irwin, 2004 Kostecki, Michel M. The Political Economy of the World Trading System: The WTO and Beyond. Oxford University Press, 2001 Michalopoulos, Constantine. Developing Countries in the WTO. Palgrave, 2001 Hammond, Allen L. Selling to the Poor. Foreign Policy, May-June 2004 Word Count: 1,049 Read More