The paper “ Economic, Social and Cultural Implications for Marketing Opportunities" is an exciting example of a term paper on marketing. The numbers of business organizations and companies operating internationally have continued to grow constantly. It is indisputable that the world is opening up for foreign companies and new destinations in the organizations’ business. As one of the emerging market economies, Brazil offers market opportunities in the current global world. As one of the BRIC which includes India, Russia, and China, it is thought that it would lead the world economy in the coming fifty years.
The countries as a member of the emerging market economy (EME) has various countries related to the business world. These include rapid economic growth, increased international politic power, and increased foreign investment. Rapid economic growth simply means more profits for foreign investors promoting economic growth. The EMEs are more open to international trade, therefore, offering more market opportunities. As a result integration and diversification into the international economy has assisted in reducing the effects of drastic changes in the prices and other external and internal shocks allowing the country to become stable in the global world.
It is obvious that such countries will definitely call for market opportunities in their business industry. Economic, social and cultural factors have various implications on market opportunities. Social influences market opportunities in various. Crime, education, ethnicity, social class, and health are common social factors. Culture also has an influence on business in different ways. Culture collisions, pricing difficulties, and language are not uncommon. This is common, especially in the beginning. Mistakes done at the cultural level may destroy the entire business operation.
Economic factors also play a major role in market opportunities. Factors such as infrastructure, capital, import systems, and demands are significant in establishing markets in different countries. Social factors As Matos (2010) argues the social factors in Brazil can have impacts on a marketing opportunity. Society classes, to begin with, that evolved in the twentieth century has four distinct classes. They are the high class, formally middle class, informally middle class and lower class. The high has more properties and prestige while the middle is the employed, technical workforce, self-employed businessmen that account for nearly half the economically active population.
The lower class includes 21% of the Brazilian population but generally, the differences between the rich and the poor are very small. Such classes are an opportunity for diverse products at different prices. They also exhibit unique skills and are generally mobile in different workplaces and opportunities. Most products with pricing strategy can attract such classes who also tend to be open to various market products. Crime is rampant in Brazil, and the high rates of violence such as robberies and murders might negatively affect the market.
Life-threatening crimes are traced back to alcoholism and drug trade of cocaine. There are also carjacking, trafficking, internet hacking, express kidnapping, slavery, and domestic abuse. The crime-related issue may adversely be a push factor for investors. Without adequate security of assets, personal life investors cannot opt for Brazil as a good market opportunity. Another big problem is the slow justice system that is common with Brazil. The majority of crimes go unsolved as there are many loopholes for numerous appeals. The lax criminal charges show the ineffective of settling cases and thus wastage of time and resources for investors.
Other already established markets may be contained to relatively secure towns and cities reducing the geographical access to markets.