developing nation

Examples of developing nation in the following topics:

• Measuring the Economic Environment

  • A way of classifying the economic growth of countries is to divide them into three groups: (a) industrialized, (b) developing, and (c) less-developed nations.
  • Developing nations are those that are making the transition from economies based on agricultural and raw materials production to industrial economies.
  • Finally, there are many less-developed nations in today's world.
  • The developing nations, on the other hand, have growing population bases, and although they currently import limited goods and services, there exists a long-run potential for growth in these nations.
  • As the degree of economic development increases, so does the sophistication of the marketing effort focused on the countries.

• The Service Economy

  • This is primarily due to the increasing importance and share of the service sector in the economies of most developed and developing countries.
  • Economic history tells us that all developing nations have invariably experienced a shift from agriculture to industry and then to the service sector as the mainstay of the economy.
  • As their economies continue to develop, the importance of the service sector continues to grow.
  • The service economy in developing countries is most often made up of the following industries: financial services, tourism, distribution, health, and education.
  • Define the role of a service economy in developed and developing countries

• Natural Resources, Infrastructure, and Technology of New Markets

  • The natural resources, infrastructure, and technology of a nation will determine the ease and viability of entering that country's market.
  • It is an important term for judging a country or region's development.
  • A country's infrastructure will help determine the ease of doing business within that nation.
  • The level of technological development of a nation affects the attractiveness of doing business there, as well as the type of operations that are possible.
  • A country's technological capabilities will help determine what types of operations are possible in that nation.

• The World Trade Organization (WTO)

  • The organization is attempting to complete negotiations on the Doha Development Round, which was launched in 2001 with an explicit focus on addressing the needs of developing countries.
  • Assists in developing, least-developed, and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training.
  • WTO members do not have to be full sovereign nation-members.
  • The conflict between free trade on industrial goods and services, but retention of protectionism on farm subsidies to the domestic agricultural sector (requested by developed countries) and the substantiation of the international liberalization of fair trade on agricultural products (requested by developing countries) remain the major obstacles.
  • These points of contention have hindered any progress to launch new WTO negotiations beyond the Doha Development Round.

• Defining Consumers

  • It is important to note that consumers (or customers) play a vital role in the economic system of a nation.
  • Any product, good, or service that is developed must have a target market in mind, in order to be effectively marketed and sold.
  • It is important to note that consumers (or customers) play a vital role in the economic system of a nation .
  • Example of an open food market in Vienna, showing how consumers play an important role in a nation's economy.

• Idea Generation

  • Innovation is crucial for the development of successful new products.
  • Discussed below are five crucial sources of innovation: technical breakthrough, non-technical idea development, environment, serendipity, and purposeful development.
  • Large-retail stores are now achieving success in Asian nations, through importing the idea of economies of scale, which in turn enable one-stop shopping and lower prices.
  • Purposeful development occurs when there is a strong need for certain goods or services.
  • Being innovative is key to generating new ideas in product development.

• Commercialization

  • It has survived the development process and it is now on the way to commercial success (if all goes well, that is!).
  • The actual launch of a new product is the final stage of new product development, and the one where the most money will have to be spent for advertising, sales promotion, and other marketing efforts.
  • Launch location: It can be in a single location, one or several regions, a national or the international market.
  • Smaller companies usually launch in attractive cities or regions, while larger companies enter a national market at once.
  • It has to develop a viable marketing-mix and create a respective marketing budget.

• Trends

  • This includes technological developments in areas ranging from antibiotics and medicine, to nuclear and chemical weaponry, and credit cards.
  • This includes all departments, such as management, finance, research and development, purchasing, operations, and accounting.
  • For example, research and development have input as to the features a product can perform.
  • As industries such as pharmaceuticals and national defense expand, they create new markets and new uses for products.
  • African-Americans, Hispanics, and other minorities make up the majority of the nation's population growth in the past decade—and will account for an even larger proportion of the nation's growth in the decade to come.

• Developing a Market Segmentation

  • Only one marketing mix is developed.
  • The organization does so by developing a distinct marketing mix for each segment.
  • They then develop marketing programs tailored to each of these segments.
  • Geographic criteria—nations, states, regions, countries, cities, neighborhoods, or zip codes--define the market segments.
  • This consists of dividing the market into groups based on variables such as age, gender, family size, income, occupation, education, religion, race, and nationality.

• The European Union (EU)

  • The EU has developed a single market through a standardized system of laws which apply to all member states.
  • EU policies aim to ensure the free movement of people, goods, services, and capital; enact legislation in justice and home affairs; and maintain common policies on trade, agriculture, fisheries, and regional development.
  • In 2002, EU notes and coins replaced national currencies in 12 member states.
  • Generally speaking, they can be classified into two groups: those which come into force without the necessity for national implementation measures, and those which require national implementation measures.
  • While services account for 60% to 70% of GDP, legislation in the area is not as developed as in other areas.