Reflection on Impact of Emerging Markets Essay Example for Free

Reflection on Impact of Emerging Markets Essay The world of business has changed in recent years. Usually, the firms of developed countries dominated the globe and developed countries’ markets were the most attractive. However, new attractive markets and new players have emerged from areas outside the developed world. These new markets such as the BRICs and the MISTs have large populations, high economic growth and increasing demands for goods. Also, they are expected to surpass the developed economies by 2050 (Goldman Sachs, 2003). According to Jagdish N. Sheth, the emerging markets have impacted both the theory and the practice of marketing. The reason is very simple; marketing is a discipline that was developed in the concept of industrialized (developed) markets meaning that most of the marketing tools are designed to work specifically in industrialized markets (Sheth, 2011). Therefore, adapting most of what is known about marketing is necessary to succeed in new markets and new marketing research approaches need to be taken. The article Impact of Emerging Markets on Marketing: Rethinking Existing Perspectives and Practices covers some of the most important characteristics of these markets such as their growth, market heterogeneity, sociopolitical governance and comparative advantages. Also, the author suggests some changes that need to be made to the existing marketing theory, marketing strategy, marketing policy and marketing practice. Moreover, Sheth argues that companies (from developed countries as well as from the emerging countries) who succeed in the mentioned markets are becoming global competitors. The reason is that these firms have to innovate to overcome challenges such as shortages of resources, inadequate infrastructure and unbranded competition. As a result, innovation makes these firms more efficient as well as it creates a competitive advantage which allows them to compete globally. Having grown up in Mexico, one of the so called MISTs, I can relate many of Sheth’s marketing suggestions with some strategies used by Mexican companies. Some of these companies are already global players such as Grupo Bimbo, Cemex and America Movil (Inter-American Developing Bank, 2008). They are strong competitors in the bakery industry, building materials industry and telecom industry respectively. However, there is another rising player named Coppel S.A. de C.V. that already started to expand to other emerging markets outside Mexico, aiming to become a global competitor in the retail business. Coppel is family owned business with 1,000 stores and 80,000 employees in Mexico. Also, it has eight stores in Argentina and eight in Brazil. I will like to focus on Coppel, 2011’s biggest retailer in Mexico (El Economista, 2012), and how this company has already applied some of Sheth’s suggestions to marketing perspectives and practices. Even though the article mentioned many good points to succeed in emerging markets, the most important are purpose driven marketing, resource improvisation, and market development. Purpose driven marketing According to Sheth, purpose driven marketing is going beyond highlighting the benefits of a product or service, creating a lifetime value among the customers, employees and other stakeholders. Coppel wins its customers’ hearts with the slogan â€Å"Coppel Mejora tu vida† which translates to â€Å"Coppel improves your life†. Along with the slogan, Coppel offers a range of products such as clothes, furniture, electronic appliances and financial services to the 68 percent of the Mexican population whose monthly income is less than 2,743 pesos, close to 165 EUR (DigitalPersona, 2012). Most of the products sold by Coppel are products that fulfill the customers’ needs. At Coppel’s stores, it would be difficult to find expensive shoes or clothes. Also, Coppel guarantees all the furniture and any electronic product regardless of the brand sold at their stores up to 2 years; while most manufacturers only guarantee the first year. This warranty is very important to the customers since a washing machine or refrigerator can be equivalent to ten or eleven months of salary. In the financial services part, Coppel offers credit to buy goods in the store and cash loans up 1,000 EUR (loyal customers who have been Coppel’s clients for more than a year). Coppel is not as strict as many of the different financial institutions in Mexico which would never lend a single peso to any of Coppel’s customers. In other words, Coppel has a marketing policy of inclusive growth which means including in their policies those markets that marketers would have left out. In addition, Coppel extends its marketing to its stakeholders such as the community, employees, channel partners and suppliers. For the employees and their children, Coppel offers to pay half of their school tuition up to the master degree level as well as provide school supplies for them. Also, Coppel encourages its employees to get married by giving employees up to two months’ salary as a wedding present. Marriage is seen as a very important tradition in a conservative country such as Mexico. As a result, Coppel does improve the life of its customers as well as their stakeholders. It focuses on creating a lasting value to position itself as a company that offers more than just quality products and services. For this reason, Coppel has better financial performance than its competitors. Resource improvisation. â€Å"If necessity is the mother of invention, then resource shortage is the father of innovation† (Sheth 2011). For that reason, firms operating in emerging markets gain advantage by improvising with scarce resources, making them more innovative relative to their competitors. Coppel’s most innovative process is the use of a fingerprint biometrics in the point of sale (POS) and in all operating systems (DigitalPersona 2012). This system has helped to improve the verification process of purchases for 20.6 million customers since a customer can buy on credit (in the store) using just his or her fingerprint without using any type of identification. As mentioned, Coppel has close to 20 million registered customers’ fingerprints in their database. That represents almost 20 percent of the entire Mexican population, which allows Coppel to generate a reliable source of information about its customers. Reliable information about customers is not easy to have in emerging markets. For that reason, Coppel has an advantage over its competitors since it can use that information to create new marketing strategies to target a specific customer behavior. Also, the fingerprint system has reduced the possibility of fraud since every single customers information is linked to his or her fingerprint. This system has proved very useful in Argentina and Brazil where most customers (low income class) hardly carry an ID with them. Another innovating process is Coppel’s distribution system. The reason is that Coppel has 19 warehouses with 127 distribution centers to supply all its stores in 337 different cities in Mexico (DigitalPersona 2012). The distribution system is in-house designed which means that Coppel can modify it whenever is needed without having aid from an external provider. This decreases the response time when a challenge is raised. Also, Coppel’s system updates in real time. This means that the company knows exactly what products are being sold at any given time and what products are on the delivery trucks. In addition, Coppel daily supplies all the stores just with the right amount of goods that were sold the day before using small trucks with low gasoline consumption or pressured gas to keep down the cost. It also offers free delivery to its customers. This is a competitive advantage since other competitors do not offer it free of charge and almost half of the Mexican population does not have cars. Moreover, the distribution system is very efficient that some other retailers like Wal-Mart Mexico have tried to replicate it. In Mexico, Coppel is known as an innovative firm due to its distribution and fingerprint systems. Market development. While developed markets’ firms target customers’ needs using market intelligence, firms in emerging markets such as Coppel create customers’ needs by shaping customer expectations. In other words, create a â€Å"Field of Dreams† and customers will come. â€Å"Coppel mejora tu vida† is a statement that brings the customers to that â€Å"Field of Dreams†. Since customers in emerging markets are seeking to improve their life condition within their limited economic capacity, Coppel offers accessible and affordable products and services. Coppel has created and developed its own market over the last 70 years. The firm took care of the expectations of the poorest segment in Mexico and that segment has become Coppel’s most loyal customers. Therefore, developing a market brings more financial benefits than market orientation since the firm that develops a market gets the advantage and creates barriers for new entrants. Huawei in China and Avon in Brazil used marketing development to shape the customers’ expectations to positioning themselves in those markets. Nowadays, both of them are strong global competitors. Conclusion Coppel has the widest profit margin of any major Latin American retailer (Bloomberg 2012) because its strategies are based on purpose driven marketing, resource improvisation, and market development. Also, Coppel has developed a market as a result of a lifetime value that is attractive to all the stakeholders while innovating to overcome the challenges generated by the characteristics of operating in an emerging market. As mentioned by Sheth, new ideas from the emerging markets are impacting what we know about marketing. In the 1980s there was the belief that â€Å"The products and methods of the industrialized world play a single tune for all the world, and the world eagerly dances to it† which was written in the 1983’s article The Globalization of Markets by Theodore Levitt. This statement suggests that no adaptation was needed to Marketing practice and theory. On the other hand, Sheth says â€Å"the rise of emerging market is inevitable and it will have a disruptive impact on the marketing practice and theory† in 2011. Sheth’s article creates the bases of what is going to be new approaches for marketing research. The emerging markets will become the focus of the next generations of marketers and firms such as Coppel will be an example of how the emerging firms are shaped by their surroundings. References Sheth, J.N. (2011). Impact of emerging markets on marketing: Rethinking existing perspectives and practices. Journal of Marketing, 75 (July), 166-1 Levitt, T. (1983). The globalization of markets. Harvard Business Review, 61 (May/June), 92-102 Goldman Sachs (2003). Dreaming with BRICs: The Path to 2050. Goldman Sachs. N.p., n.d. Web. 11 Dec. 2012. http://www.goldmansachs.com/our-thinking/topics/brics/brics-reports-pdfs/brics-dream.pdf Inter-American Development Bank (2008). From Multilatinas to Global Latinas The New Latin American Multinationals. Http://www.iadb.org. N.p., 2008. Web. 11 Dec. 2012. http://www.iadb.org/intal/intalcdi/pe/2009/03415.pdf El Economista (2011). â€Å"En El 2011, Coppel â€Å"abaratà ³Ã¢â‚¬  a Liverpool†. En El 2011, Coppel abaratà ³ a Liverpool. N.p., 15 Mar. 2012. Web. 11 Dec. 2012. . Coppel. Coppel. N.p., n.d. Web. 11 Dec. 2012. . DigitalPersona (2012). Coppel Corporation Uses DigitalPersona Fingerprint Biometrics for Customer and Employee Security and Convenience. Coppel Corporation Uses DigitalPersona Fingerprint Biometrics for Customer and Employee Security and Convenience. N.p., 21 Sept. 2012. Web. 12 Dec. 2012. Bloomberg News (2012). â€Å"Mexico’s Coppel Brothers Emerge With $16 Billion Fortune.† BusinessWeek. N.p., 15 Nov. 2012. Web. 17 Dec. 2012.

Praxis Statement :: Education Teacher Essays

Praxis Statement When I first decided to be a teacher I had many thoughts and opinions about teaching and education. Some of my thoughts and opinions have stayed them same; however, many have changed from the discussions and readings in LL ED 411 and 480. When I first decided that I wanted to be a teacher I thought that most students learned in the same manner. I also thought that the teacher should have power over the classroom. Likewise, I thought that technology should not be used in the classroom--except to type papers. I now know that there is not much truth to my ideas and thoughts because my thoughts were shaped only from my experiences. My experiences are narrow because they were shaped from the problems in schools and the old ideas that teachers still have. Now that I have learned the other sides to these problems I know that my thoughts about teaching and education are not fully developed. One of the ideas that I have learned is that all students learn in different ways and teachers need to teach to their needs. This is described with an analogy in Finding Freedom. The analogy used is, â€Å" . . . anyone would laugh themselves silly at the thought that children with different body sizes ought to be made to wear the same size clothes . . .† (Hinchey, 67). We would laugh if someone said all children should wear the same size clothing, yet teachers are still teaching students all in the same way. Some students learn from lecturing and memorizing, whereas others learn from examples and trial and error. Finding Freedom states that teachers need to modify work for students so that they can learn the material (Hinchey, 11). Delpit also states, â€Å"Some of the [black students] even learned how to read, but none of them as quickly as my white students. I was doing the same thing for all of my kids--what was the problem?† (Delpit, 13). Before reading these two statements as well as others and discussing them in class I thought that almost all students learned in the same way. I thought this because I learned from lecturing, memorizing, and a few examples. I figured that if I could learn in that way and most of my peers learned in that way then most students could. Praxis Statement :: Education Teacher Essays Praxis Statement When I first decided to be a teacher I had many thoughts and opinions about teaching and education. Some of my thoughts and opinions have stayed them same; however, many have changed from the discussions and readings in LL ED 411 and 480. When I first decided that I wanted to be a teacher I thought that most students learned in the same manner. I also thought that the teacher should have power over the classroom. Likewise, I thought that technology should not be used in the classroom--except to type papers. I now know that there is not much truth to my ideas and thoughts because my thoughts were shaped only from my experiences. My experiences are narrow because they were shaped from the problems in schools and the old ideas that teachers still have. Now that I have learned the other sides to these problems I know that my thoughts about teaching and education are not fully developed. One of the ideas that I have learned is that all students learn in different ways and teachers need to teach to their needs. This is described with an analogy in Finding Freedom. The analogy used is, â€Å" . . . anyone would laugh themselves silly at the thought that children with different body sizes ought to be made to wear the same size clothes . . .† (Hinchey, 67). We would laugh if someone said all children should wear the same size clothing, yet teachers are still teaching students all in the same way. Some students learn from lecturing and memorizing, whereas others learn from examples and trial and error. Finding Freedom states that teachers need to modify work for students so that they can learn the material (Hinchey, 11). Delpit also states, â€Å"Some of the [black students] even learned how to read, but none of them as quickly as my white students. I was doing the same thing for all of my kids--what was the problem?† (Delpit, 13). Before reading these two statements as well as others and discussing them in class I thought that almost all students learned in the same way. I thought this because I learned from lecturing, memorizing, and a few examples. I figured that if I could learn in that way and most of my peers learned in that way then most students could.

3 Important People in My Life.

3 important people in my life. There are several people in my life that have served as a source of influence. However, there are three people who have not only impacted a decision or two, but have drastically altered my way of life. These people have completely transformed my life in a positive way. Without these people, my life would not have the same meaning and purpose. These three important individuals are my mom, my dad, and my wife. First and foremost, there is my mother. She has served her role as my mother dutifully and out of love. That would explain any mother in this world.However, she has gone beyond that and has provided a very nurturing childhood while growing up. Growing up in India, there was a large emphasis on academic success. For some of my friends, that meant doing well and succeeding called for praise while failure was simply looked at with disgust. My mother never judged me for my successes or failures. She acknowledged my successes, but also taught me how to l earn with my failures. This applied not only to school, but also to sports. Perhaps, this is why I excelled in both. I received the encouragement and proper guidance I needed.Furthermore, my mom always had a calm attitude. She never worked with a hot temper. I learned how to be patient and how to deal with problems that came my way. Thus, my mom did not only provide me with an exemplary childhood, she role modeled and taught me positive life skills. I always refer back to a problem in terms of what my own mother would do. The second most significant person in my life is my father. Growing up, he was very present in my life even in a patriarchal society. He encouraged me to succeed and excel in everything I do.Not only that, but he also taught me some of the tougher life lessons. I remember that as a child, whenever I wanted something new, I had to wait it out until it was practical to replace whatever I wanted to replace. If I whined or cried, it would be completely out of the quest ion. Thus, my dad in a way taught me how to appreciate the things in life as the way they are instead of always hoping for a change. He also taught me to be strong and patient with goals because crying and whining only leads to time wasted. It is a weakness that only sets you back instead of moving you forward.Another aspect my dad has influenced me greatly is to look at every individual with equality. Growing up, I was raised to not judge a person based on who they were or how much money they made. My dad instilled these values into me and hoped that I carried them forward. He wanted me to understand that people may differ from the surface, but they should all be taken equally. Without my father, my social interactions and way of setting goals and achieving them would not have been the same. Finally, the final person of significance in my life is my wife of 4 years.Right after I moved to Houston, I did not know many people and my life was very simple and bland. I would go to school , focus on my studies, interact with my family, and repeat the same routine every single day. My life was missing an important social sector. I had no one else to talk to. However, I met a girl from Houston and she was very friendly and kind. She did not judge me like others did. She did not concern herself with my style or who I was. She took me like any other person. Perhaps this mindset was what I was looking for in another person.She not only was there when I needed her the most, but she became another reason and another motivation to keep my life moving strong. Thus, she has inspired me that there is always hope even in difficult times. However, the key is to maintain hope and a positive attitude. One of the most important things she has taught me is to always smile and life. Life is too short to carry a frown on your face and to not enjoy every single moment of it. As a result, these three people have served as great source of positive influence. Without them, my life would be incomplete.

A Critical Analysis of Healthcare Serial Killers - 1484 Words

Serial murder, which is defined as â€Å"the unlawful killing of two or more victims, by the same offenders, in separate events†(Lubaszka Shon, 2013, p. 1), is a term that American society has become quite familiar with. At a ripe age, parents begin teaching their children not to talk to strangers in hopes of shielding them from the potential evil our world has to offer, but what if I told you the serial killer may not always be the scary man driving a van and offering candy? Our society, like it does most things, has placed a stigma upon serial killers. Although not all implied labels are untrue, this stigma makes us vulnerable to the hidden deviance lurking behind us, dressed in sheep’s clothing. Over the course of this analysis, I will†¦show more content†¦Through the use of secondary research, Lubaszka and Shon compare and contrast offense characteristics and offender behaviors of serial killers to those of healthcare murderers. Their purpose is to bring attention to the fact that the two types of serial killers are not as comparable as previously believed. Therefore, asserting the necessity for future scholars to study the offenders separately(Lubaszka Shon, 2013). In order to support their claims, Lubaszka and Shon focus on three limitations traditional serial homicide theories possess as they attempt to explain healthcare serial killers. Those three limitations are as follows: applicability of current typologies, stalking rituals, and geographical mobility (Lubaszka Shon, 2013, p. 5). Currently typologies are inapplicable to healthcare homicides due to the fact that major differences such as victim selection, crime scene behavior, and motivation of control are not considered when studying offender characteristics. The second limitation, stalking rituals, further proves that there is a distinct difference between the two types of serial killers, also making it implausible to study healthcare killers on the basis of traditio nal serial killer theories. Traditional serial killers spend a substantial amount of time watching and getting toShow MoreRelatedCollaborative Big Data Analytics And Visualization2754 Words   |  12 PagesNorth Carolina Agricultural Technical State University aadejumo@aggies.ncat.edu MARCH 2015 Abstract This paper discusses collaboration using big data analytics and visualization. It tries to bring to fore the advantages of collaborative analysis using visualization tools. How information visualization can enhance effective collaborative decision making process. 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