Marketing in emerging markets: a review, theoretical synthesis and extension

Abstract

Purpose The purpose of this paper is to provide an overview of theoretical models and studies dealing with the international marketing strategies in emerging markets and provides recommendations for future research based on the review. Design/methodology/approach A review of literature on the topic was conducted and a new model is developed as a theoretical extension on the basis of insights from prior research. Findings Organizations need to take into account several characteristics of consumers and markets in advance as part of their business plan to select appropriate emerging markets, and decide best possible entry modes. Originality/value To the best of authors’ knowledge, there is no comprehensive review article on this subject, which provides directions for future research. The authors fill this gap in the literature and suggest strategies with regard to market selection, entry modes, market adaptation, customer relationship development with a new four-dimensional model.