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Focus: Dos and don’ts of entering emerging markets
Putting down stakes
Many multinational companies are eyeing the fast-growing economies of Brazil, China, India, and others to fuel revenue growth for years to come. The opportunities are significant – and so are the challenges.
Some companies are effectively tapping into these markets by customizing strategies to meet each country’s specific demands. It’s not just about establishing local operations, but also understanding the regulatory and cultural nuances and risks within a country or region. Other companies are having a much tougher time. Some cite an inability to provide affordable products and services for price-sensitive customers. Others say local competition, lack of brand awareness, and government bureaucracy are causing them major headaches.