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Welcome to
final class of
Emerging Markets
Dr. Satyendra Singh
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Objectives• To understand
– The concept of emerging markets trading blocks
– The difference between EM and developed markets
– The changing consumers’ preferences and developing products and services to satisfy the preferences
– The strategies to market the products and services using the knowledge of economics, culture and religion
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Course Outline
• Term test • Class participation • Research-based group project• Individual presentations on Journal articles• Group presentation• Final exam• Websites…
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Others• Reviewed/rapid feedback/main points• Available for you-- readily• Sensitive students needs• Clarity/editing skills• Interesting/practical examples• Encouraged to speak• Learn to mark presentations
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Introduction to EM
DefinitionsBottom of the pyramidCharacteristicsTrading blocksInternational agenciesUnfair trade
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Eco and Medical Tourism
Its importance
Types of ecotourism
Examples of ecotourism
Medical tourism
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Genetically Modified FoodsCrops using molecular technique
– Advantages and disadvantages
Criticism of GMO– Governments and publics
GM food labeling requirements– Europe vs. Canada
GM food distribution
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Human Rights and Businesses• UN Global Compact
– Four dimensions• Human rights
– Support, respect and protect HR– Businesses are not involved in HR abuses
• Labor standards– Uphold freedom of association– Eliminate forced and compulsory labor– Abolition of child labor– Elimination of discrimination
• Environment– Support environmental challenges– Promote environmental responsibility– Develop and diffuse environmentally friendly technologies
• Anticorruption– Work against all form of corruptions
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Misleading MarketingNegligent consumer behavior, Product misuse
Misleading marketing
Economics of Information Model– Search, Experience, and Credence claims– Literal versus implied claims
Criteria to test claims Schechter’s approach– Credibility vs. Verifiability
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Islamic BankingNo deception and no ribaIjara mortgages Lease to own
– Bank purchases it for you– Pay over 25 years– Rent ↓ over time
Murabha Mortgages Less popular– Bank purchases and resells it to you and ↑higher price– Pay < 15 years
Credit Cards– Mudharabha partnership bank $, customer benefit
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Microcredit and Microfinance• Microcredit No profit motive
– Sustainability– Poverty reduction
• Microfinance– Social return– Economic return– Psychological component
• Conscious-driven microfinance
• Three kinds of entrepreneurs– Traditional capitalist– Philanthropic organizations– Microfinance enterprises financial return cannot be negative
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Philanthropy as a StrategyIndividual, Corporate, and Strategic
– combine social and economic benefits to develop distinct competitiveness
Where to focus
How to create value– Select the best grantees/purpose/organization– Signal other funders – matching grants– Improve performance of grant recipients– Advance knowledge
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Luxury Marketing
Difference b/w luxury and traditional marketing
Luxury and comfort
Wealth and Status Luxury marketing
Luxury consumption situation and strategies
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It was my honor to teach you.
--Sat