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Emerging Market - Coursework Example

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Emerging Marketing in China Introduction Marketing is the creation of consumer satisfaction by the creation of products, distribution, pricing and promotion of the product. Marketing is a common activity in the current world where most products are marketed to get the attention of the customers or the consumers…
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Emerging Market
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Emerging Market

This has lead innovation in the variety ways of availing resources to the customers through advertisement. In addition, businesses around the world are experiencing changes due to increasing number of emerging markets and there is also stiff competition in those emerging markets. Furthermore, the innovation of new ways of marketing with the use of high-tech machines and information technology (IT) has made the world a global village. This paper will focus on emerging markets in China. China has been considered by most businesses to be hard to achieve the best marketing strategies. This is because companies in China have grown for decades adopting sophisticated ways in their business performance. This has posed challenges to any company wanting to tap or consider starting a business in China. Companies, especially the western companies, have been faced with challenges but sometimes they have got opportunities to tap into emerging markets in China (Czinkota & Ronkainen 2009). China has grown to be the best economic country since inception of marketing reforms in 1978. The marketing reforms moved the country from a central governing style to a market defined economy. Changes have been felt in the country, for example, more that 500 million people have been salvaged out of poverty making the country achieve their targets. China is currently the second biggest economy after the US, and the economy of Chinese is still growing, which is one of the best achievements in the world’s most populated country of 1.3 billion people. Chinese products had high demand during the 2008 financial crisis when most countries in the world were hit by inflation and high prices of goods. The cheaper products from China were demanded by many customers. This was after the country made changes by the implementation of a $586 billion stimulus package which saw increases in leading rates by many institutions to their customers for the improvement of businesses (Dorn 2011). Despite the achievements of the Chinese government, the countries still has a high number of people living below the poverty line. China has a high number of poor people in the world and it ranks in the second position after India. World Bank numbers show that the gross national income per capita in China is $6091, and because of this, average income of persons per day is 1.8 dollars making the country to be ranked at the 90th income per capita position. Despite the high economic growth that China is undergoing, a number of challenges are faced by the country, for example, an increased rate of inequality is experience in the country. China is attributed to be losing a lot due to environmental challenges. According to Zhang (2012), estimation caused by environmental challenges in the economy is 10.51% of the gross national income. This is based on a 2008 review by the World Bank. The main focus in China is to sort the challenges they are facing with more attention on environmental and social challenges. The issue the country is facing is addressed in a 5-year plan which is taking place between 2011 and 2015. Characteristics and Challenges of Emerging Marketing in China The characteristics of emerging marketing China are mostly shared by most Asians countries like Japan, South Korea and China. The Asians countries have the same styles of marketing which makes them to be accepted in their continent as compared to emerging markets of Western ... Read More
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