lec 6

Question 1

what are the three types of economies

Answer 1

advanced ( usa ) , developing ( africa ) , emerging ( china )

Question 2

what event often occurs in emerging economies (P)

Answer 2

privatization (transition of state owned industries)

Question 3

benifits of going into emerging markets

Answer 3

low labour cost
growing markets
growing middle class

Question 4

challanges of emerging markets (5)

Answer 4

political instability, weak pattent law, lack of transparency ( shady gov ), bad infrastructure, resistance from big family conglomerates

Question 5

what are some strats to entering emerging markets

Answer 5

making customized offerings and marketing, partnering with family conglomerates, target governments

Question 6

what advantage do local companies have

Answer 6

they have a better understanding of local markets and needs

Question 7

what does cage stand for

Answer 7

cultural
admin / political
geographic
economic

Question 8

what is the point of the cage model

Answer 8

its so that companies can understand the differences they may need to address when entering a new market