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Emerging Markets
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The term emerging markets is normally used to describe business
and market activity in industrializing or developing regions of the world.
It is also sometimes loosely used as a replacement for emerging economies,
but in reality signifies a business phenomenon that is not fully described
by or constrained to geography or economic strength. Such countries are
considered to be in a transitional phase between developing and developed
status and examples of emerging markets include China, India, Malaysia,
several countries in Eastern Europe, and parts of Africa and Latin
America.
The research on emerging markets however is
diffused within management literature. While many researchers including C.
K. Prahalad, Hernando De Soto, and several other professors from Harvard
Business School and Yale School of Management have described economic
activity in countries such as India and China, it is still ambiguous as to
how a market emerges and this aspect is still little understood. It
appears that emerging markets could well lie at the intersection of
non-traditional user behavior and the rise of new user groups as well as
community adoption of products and services, and also innovations in
product technologies and platforms.
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