The Emergence of a New Economic Powerhouse: The rise of BRICS (Brazil, Russia, India, China and South Africa) as the 21st century’s engines of global economic growth. There is a shift of power within the world economy towards these countries, especially China.
These countries look interesting for global marketers due to the following reasons:
- Growing GDPs
- Growing disposables incomes
- Growing population sizes
- Growing middles classes
- Growing educated workforces
Emerging Markets Give Rise to New Competitors – EMNEs
More and more competitors from emerging markets are entering international markets.These are known as EMNEs (Emerging Markets Multinational Enterprises).
Sources of Competitive Advantage for EMNE’s in Global Competition.
- Frugal innovation
- Operational excellence in adverse environments
- Ultra-low cost production
- Privileged access to resources and markets
- Traditional first-mover advantages
- Insights into customer needs
(Ramamurti, 2012)
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