Emerging markets have been a hot topic for many years now. Companies selling into emerging markets tend to be consumer goods companies. Mainly food and personal care products. Companies in established, modern markets are trying to establish brands in emerging markets. This blog series will discuss emerging market basics and will dive in to more detail on their incomes, population growth expectations, issues, sales analysis and more.
We'll start off with a basic definition. Emerging markets are developing countries that are moving away from their traditional economies. They are trying to create a better quality of life for their people and establish a market that will grow, thrive and become more industrialized. They are trying to adopt a more free market economy.
Emerging markets initially, referred mainly to Brazil, Russia, India and China. These countries are commonly referred to today as BRIC. Over the years as other countries continued to modernize, more countries were added to what we refer to as, "emerging markets." As a result, the discussion on emerging markets next evolved to also include Indonesia, Pakistan, Nigeria, Bangladesh, Poland, Turkey and Mexico.
Again, as these countries continued to modernize a new set of countries were added to the emerging market fold. Asian countries began to be included. There were another ten countries added to what is considered "emerging market economies." Those ten (10) countries are commonly referred to as the 10 ASEAN nations. ASEAN stands for the “Association of Southeast Asian Nations.” They include Indonesia, Malaysia, the Philippines, Thailand, Brunei, Burma, Cambodia, Vietnam, Singapore and Laos.
My next blog on emerging markets will discuss emerging market spending.
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