Marketing And Communication Information And Decision Making

Market research challenges and marketing decision making in Vietnam Name: Kabilen Chandrasegaran Student ID: 101355086 Unit title: Marketing and Communication Information and Decision Making Unit code: MKT 30015 Tutor name: Bopha Roden Day and time of tutorial: Tuesday (8.30-9.30) Due date: 4th September 2016 Total words: 1611 words Contents Introduction 2 Cultural 3 Accessibility 4 Communication and technology difficulties 6 Conclusion 9 Reference List 10 Introduction In general an emerging market is defined as an economy that is steadily progressing towards reaching the status of an advanced economy. According to the World Bank, there are 28 major emerging markets to date (The World Bank 2016). Hence these markets play a pivotal role in influencing the world’s economy as it consists of 82% of the world’s population. With 82% of the world’s population under its belt, this market poses an exceptional potential for business development. By 2020, these markets economy is predicted to develop three times faster compared to an advanced market (The World Bank 2016). Although there’s a lucrative offer outlaid, companies are faced with many barriers internationally which could lead to pitfalls. Therefore it is important that an international market research is conducted to understand customer’s needs which will give managers information on constructing a strategic decision before exploiting the market. 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