Few companies have the resources to develop all markets at the same time. So a company needs up-to-date knowledge of external conditions to decide and plan the geographical order in which it should expand its operations. Such knowledge takes time and money to acquire, but in emerging markets there is also the difficulty that reliable data are often hard to find. As a result, instinct or gut feeling plays an important part in decisions to expand into developing countries. Companies can become more comfortable with such decision-making by, for example, building relationships and networks with people already operating in the markets in question. This is a great help in testing assumptions and in discoveringthe realities of a market.
What is your challenge of doing business in emerging markets?
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