Marketing Strategy Adaptation on the Anvil of Market and Institutional Variations: MNCs and Emerging Economies

"Emerging Economies" (EEs hereafter), are known to be the biggest boost to the global economy after industrial revolution; while they have relatively low levels of per capita incomes, they are moving from a lower to a higher stage of economic development (see Nakata and Sivakumar, 1995, The Economist 2006). An emerging economy is generally viewed as one that often has low per capita income but also has a rapid pace of economic development, government policies favoring economic liberalization, and a usually free market economy (see Hoskisson, Eden, Lau&Wright, 2000 for a good account).