Marketing for Managers: Review of International Marketing Strategies

This report critically reviews an article on international marketing strategies employed by firms in emerging markets. It summarizes the article's main points, theoretical foundations rooted in institutional theory and resource-based view, and the empirical research approach involving qualitative and quantitative data from scholarly manuscripts. Key findings highlight the drivers of international marketing strategy, including firm behavior, managerial characteristics, and institutional forces, with adaptive foreign entry strategies being crucial. The report identifies new findings such as the impact of social capital and informal business environments on organizational performance. It concludes by discussing the practical implications for marketing managers, emphasizing the importance of adapting to local market conditions, fostering innovation, and leveraging relationships with local leaders. Desklib offers this and many more solved assignments for students.

Running head: MARKETING FOR MANAGERS
Marketing For Managers
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Table of Contents
Introduction......................................................................................................................................2
A. Summary of Article....................................................................................................................2
B. The Theoretical Foundations......................................................................................................3
C. Nature of the Research................................................................................................................4
D. Sample Size Considerations........................................................................................................5
E. Key Findings from the Research.................................................................................................5
F. ‘New’ Findings that Advance Knowledge..................................................................................6
G. Personal Opinion on the Findings...............................................................................................7
H. What Practitioners Can Learn and Apply...................................................................................7
Reference List..................................................................................................................................9

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Introduction
With the changes in market dynamics, the marketing managers of emerging market firms
are facing extreme challenges in building effective international marketing strategies for
emerging markets. Moreover, the marketing managers need to be highly adaptive in getting
success of international marketing strategies in emerging markets. This study will critically
review an article based on international marketing strategies of emerging market firms.
Moreover, the study will summarize the article and provide theoretical foundation existing in the
article. Furthermore, the nature of research and sample size of the article will be highlighted in
this study. Apart from the key findings, the study will also consider the new findings of the
article for advancing the knowledge. On the other hand, the study will also demonstrate the
knowledge, which the practitioners can learn and apply on their brands.
A. Summary of Article
The article has mainly pointed the scholarly disclosure on the international marketing
strategies, which have shifted to adapt or incorporate the behavior of emerging markets. The
scholars of this article have challenged the long-held international marketing concepts and
strategies of developed market. The contention of this article explores that the business
environment conditions of emerging markets are distinctive and constantly changing. Hence, the
international organizations deploy unique set of international marketing strategies for getting
success in emerging markets. According to Boso, Debrah and Amankwah-Amoah (2017), the
enforcement of formal and informal institutions shapes the marketing strategies of firms in
emerging markets. Furthermore, the social behavior and economic development of the emerging

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market highly influence the international product innovation and pricing strategies of the
international firms in emerging markets.
Boso, Debrah and Amankwah-Amoah (2017) opined that the international firms often use
the local opinion leaders for mitigating the enormous void in emerging markets like impairment
of legal authority and firms’ relationship with consumers. The implication of the 7 selected
manuscripts indicates that international marketing strategies need to be recalibrated as per the
emerging market condition. It ultimately shapes the boundary condition, nature, outcome and
antecedents of internal market strategies for their best practices in emerging market.
B. The Theoretical Foundations
The theoretical foundation of this article is primarily focused on changing pattern of
international marketing strategies in emerging markets, which is completely different from the
long held international marketing strategies of developed markets. As per Boso, Debrah and
Amankwah-Amoah (2017), the economic and social conditions of the emerging markets decide
the consuming pattern and behavior of the customers. Hence, the international firms need to set
their international pricing strategies based on the affordability and consuming pattern of the
customers. On other hand, specific needs of local markets may often be unnoticed by the non-
emerging firms. It creates a condition, where the unique product and services are adopted and
pioneered in emerging market and export to developed market, which ultimately leads to reverse
innovation.
The theoretical foundation of this article has also built on institutional theory, which
explores the difference of institutional development between the emerging market and developed
market. The stream of this theoretical underpinning implies that significant difference in formal

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institutions such as law enforcement approach and regulation highly affect the share of
international marketing strategies in emerging market. Moreover, poorly developed formal
institutions often make it difficult for the international firms to enforce contracts and property
rights. It subsequently increases the cost and failure rate of new product development strategies.
On the other hand, differences in informal institutions like values, beliefs and norms of the
society also impact on the marketing strategies in emerging markets. Furthermore, the resource
based theory and internationalization theory explained in this article indicates that political
condition and economic condition of emerging markets decides the market entry strategy of the
international firms in emerging market.
C. Nature of the Research
The article has used empirical and case study research for enriching the perceptive of
market condition in emerging markets, which facilitates in explaining the boundary condition,
nature, antecedents and outcome of the international marketing strategies in emerging market.
This qualitative primary research has generated important interest from the scholars around the
world. Moreover, the article has collected scholarly manuscripts not only from the emerging
markets, but also from the developed markets having interest on international marketing
strategies in emerging markets (Boso, Debrah and Amankwah-Amoah 2017). Moreover, the
manuscripts were collected from the scholars by attending the workshop in several scholarly
meetings. Majority of the studies of the scholarly articles were based on panel data, survey data
and case studies drawn on the international marketing strategies in emerging markets.
Furthermore, the article has used empirical and thematic data analysis of extracting the accurate
meaning of the data gathered in the collected scholarly manuscripts.

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D. Sample Size Considerations
The sampling was non-probability sampling, where the scholars written the manuscripts
have high interest in international marketing strategies in emerging market. 70 manuscripts have
been received following workshops in several scholarly meetings. Hence, the population for the
research was 70. Out of 70 manuscripts, 7 manuscripts were accepted finally for their inclusion
of special issue on the research topic.
E. Key Findings from the Research
The findings of the article have explored firm behavior, managerial characteristics,
intuitional and industry environment force as the driver of international marketing strategy. The
research has examined interdepartmental connectedness and managerial emphasis as the key
driver of international marketing strategies for Jordanian Bank. Adaptive foreign entry strategy is
another international marketing strategies forecasted in emerging markets. Moreover, prediction
of foreign market strategy is highly dependent on the perceived corruption of emerging markets
and their market efficiencies (Boso, Debrah and Amankwah-Amoah 2017). The cross-country
study of this article has explored that the market inefficiencies and institutional variable drive the
organizations from such markets to have less uncertain entry modes in emerging markets.
Moreover, in weaker institutional system, joint venture marketing entry is widely used as
international market mode. On the other hand, in strong institutional settings, Greenfield and
acquisition marketing entry modes are used for foreign market entry.
Adaption and standardization of international marketing strategies highly influence on the
export performance of the international firms in emerging markets. One chose scholarly
manuscript has examined on the Colombian manufacturers and it has been observed that

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standardized pricing and product strategy have influenced its export performance. Some scholars
have explored that overseas marketing strategies in accordance with the principal marketing
strategies of the host market enhance organizational performance in emerging markets.
Furthermore, 184 high-technology organizations in China observed that product innovation
strategy drive the performance level of innovative technology firms in emerging markets.
F. ‘New’ Findings that Advance Knowledge
Extensive work has been done in this article for exploring some new findings, which can
advance the knowledge of international marketing strategies in emerging markets. Moreover, the
research on 78 Ghanaian organizations has examined that market orientation has not direct
influence on growth of sales and return on investment. Nevertheless, market orientation of
emerging markets is always optimistically related to organizational performance, when the
market is less dynamic and competitive. The impact of relationship between task environment
factors and performance of market orientation is always market specific.
On the other hand, in case of informal business environment, a new finding has been
emerged in terms of international marketing strategies in emerging markets. Moreover, the
scholars have examined the impact of social capital process on the variability of the
organizational performance of the emerging market firms. Moreover, the findings have implied
that social capital developed through managerial ties helped in enhancing the emerging market
firms’ performance. It has advanced the knowledge of the managers in emerging market firms
towards gaining effective success through effective international marketing strategies.

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G. Personal Opinion on the Findings
I have some knowledge in the effectiveness of contemporary international marketing
strategies in emerging markets. Hence, the findings of the article are not completely new and
surprising to me. However, the findings reinforce my knowledge that I intuitively knew
regarding the international marketing strategies of companies in emerging market. I knew that
international firms in emerging markets need to be adaptive as per the market condition of those
markets. This research article has given me the idea of the specific institutional regimes, which
have direct affect on the international marketing strategies in emerging markets. On the other
hand, I came to understand about the concept of reverse innovation. Moreover, the concept of
reverse innovation has strengthened my knowledge in the field of international success in
emerging markets. I understood that the innovation pioneered and developed in the emerging
markets can be exported to developed countries for enhancing the overall organizational
performance of the emerging market firms. My knowledge has also been strengthened with the
concept of socially acceptable action, which has huge impact on the types of international
marketing strategies to be adopted in the emerging markets. Furthermore, I have also become
able to reinforce my knowledge, when in read about the factors affecting the market entry modes
of the firms to enter in emerging markets.
H. What Practitioners Can Learn and Apply
A marketing manager of an organization can learn a lot from this research article, which
will help him/her to get success in the emerging markets. Moreover, the innovative concepts of
international marketing strategies in emerging markets will facilitate the manager in applying
this concept on his/her brands in emerging markets. Moreover, the manager will learn to bring

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innovation their products and services as per the informal institutional regimes of the emerging
market. Moreover, the product innovation as per the local demands of the emerging market will
facilitate the managers in getting huge business success to product customization. Furthermore,
the pricing strategies developed based on the affordability of the customers will help in sales
growth in emerging markets. Furthermore, the managers of emerging market firms will learn to
overcome the issues of formal institutional regimes through making relationship with the local
leaders of emerging markets. Apart from that, the research study is perfect for making the
marketing managers aware about the types of marketing entry mode to be adopted in entering
into any emerging market.

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Reference List
Boso, N., Debrah, Y.A. and Amankwah-Amoah, J., 2017. International marketing strategies of
emerging market firms: nature, boundary conditions, antecedents, and outcomes. International
Marketing Review, pp.01-19.