The ever-expanding involvement in world trade of more and more
people with varying needs and wants will test old trading patterns
and alliances. The foreign marketer of today and tomorrow must
be able to react to market changes rapidly and to anticipate new
trends within constantly evolving market segments that may not
have existed as recently as last year. Many of today's market facts
will likely be tomorrow's historical myths.
Along with dramatic shifts in global politics, the increasing
scope and level of technical and economic growth have enabled
many nations to advance their standards of living by as much as
two centuries in a matter of decades. As nations develop their productive
capacity, all segments of their economies will feel the
pressure to improve. The impact of these political, social, and
economic trends will continue to be felt throughout the world, resulting
in significant changes in marketing practices. Further, the
impact of information technology will speed up the economic
growth in every country. Marketers must focus on devising marketing
plans designed to respond fully to each level of economic
development. China and Russia continue to undergo rapid political
and economic changes that have brought about the opening of
most socialist-bloc countries to foreign direct investments and international
trade. And though big emerging markets present special
problems, they are promising markets for a broad range of
products now and in the future. Emerging markets create new
marketing opportunities for MNCs as new market segments
evolve.
