Strategic Marketing Issues for an Emerging Market Firm to go Global

Abstract

Emerging markets, as of recent times, are going through phases of liberalization towards market economies, increasing privatization, and are witnessing an emphasis of emerging markets' governments towards globalization. There has been a rise in the contribution of emerging market firms to the economies of emerging markets. A study with a purpose to conceptualize strategic marketing issues for an emerging market firm to go global is significant, given that success in overseas marketing ventures is critical to sustain the phases of globalization. The challenge is to enter, obtain market share, and sustain in advanced economies and other emerging markets. This paper attempts to address the conceptualization and the challenge. The method of the study is to (i) define strategic marketing, outline and distinguish the different types of firms marketing overseasinternational, multinational, and transnational / global; and (ii) analyze using extant literature, the aspects and issues of global entry and implementation of global marketing strategy. The study, post analysis, conceptualizes and postulates three moderating success factors, wherein consideration of these factors will aid the emerging market firm in improving its performance (i) acculturation processes in global businesses; (ii) achievement of global marketing synergies; and (iii) the importance of overcoming global negatives. Given that conditions for global entry and implementing global marketing strategy are met, and the three success moderating factors are addressed, the study recognizes that it is necessary to address the competitive forces in the global environment to be able to obtain an optimal share of the market. The study includes a discussion based on an in-depth interview with a leading garment exporter in Bangalore, India, to understand global entry and global marketing strategy implementation. In conclusion, it can be stated that that (i) an explicit process to address global negatives is required to overcome the perceptual gap of emerging market firms on deliverables; (ii) explicit attention to the achievement of global market synergies has to be given by global marketing strategists.

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“…Additionally, a more significant proportion of the market indicates a company's success; hence, quick expansion is desirable. Although (Jiang et al, 2015) (Cubizol, 2015), research has backed Gibrat's rule (Dovemark et al, 2018) (Kanagal, 2017) and has found it to be flawed. (Abdeldayem & Aldulaimi, 2020) and (Abdeldayem & Al Dulaimi, 2022) studies have also examined Gibrat's rule in the context of other corporate characteristics that foster expansion.…”