Asian Nations Emerging Markets

Financialminds.com defines emerging markets as those countries “which have reached a minimum level of GDP and are in the growth phase of the development cycle but whose economies are particularly vulnerable to internal or external forces”. (Olsson, 2001, 11). With the growing trend of internationalization, global marketing has become increasingly important. Emerging markets have enormous potential and marketing professionals face the great challenge of deciding which markets to enter and the proper strategy to achieve success in that market.
Michigan State University found in 2002 that Asia is currently home to eight out of twenty-four of the most prominent emerging markets. Those eight countries include Hong Kong, Singapore, South Korea, China, Thailand, Malaysia, Philippines, and Indonesia. Asia as a whole does not have a uniform economic system. The countries in Asia have very diverse economies that range from modern to poor or rural systems. Nor has Asia, in th...