Welcome to final class of Emerging Markets Dr. Satyendra Singh

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

Course Outline Term test Class participation Research-based group project Individual presentations on Journal articles Group presentation Final exam Websites…

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

Introduction to EM Definitions Bottom of the pyramid Characteristics Trading blocks International agencies Unfair trade

Eco and Medical Tourism Its importance Types of ecotourism Examples of ecotourism Medical tourism

Genetically Modified Foods Crops using molecular technique –Advantages and disadvantages Criticism of GMO –Governments and publics GM food labeling requirements –Europe vs. Canada GM food distribution

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

Misleading Marketing Negligent 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

Islamic Banking No deception and no riba Ijara 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

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

Philanthropy as a Strategy Individual, 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

Luxury Marketing Difference b/w luxury and traditional marketing Luxury and comfort Wealth and Status  Luxury marketing Luxury consumption situation and strategies

It was my honor to teach you. --Sat