Course Title Doing Business in Emerging Markets

Course Code MKT2243

Recommended Study Year Any

No. of Credits/Term 3

Mode of Tuition Sectional Approach

Class Contact Hours 3-hour lecture per week

Category Free Elective

Discipline -

Prerequisite(s) BUS2108 - Global Business Environment /

GLA2003 Global Business and Management
Co-requisite(s) NIL

Exclusion(s) NIL

Exemption Requirement(s) NIL

Brief Course Description

The emergence of the ‘BRIC’ economies and the continued growth of other developing countries is
resulting in an ever-increasing importance of what were once referred to as ‘third world’ countries in
terms of their share of the global economy. With slowing growth rates in developed countries and the
saturation of many of those markets, multinational firms are increasingly looking at expansion in
emerging markets and developing countries to fulfil their growth requirements. This course looks at the
potential and the pitfalls of operating in emerging markets and stresses to students the unique business
challenges and opportunities that exist in these countries. The course calls on students to adapt their
mindsets and recognize that when a population is ‘living with less’ this has a significant impact on how
they think, how they work and how they consume. Based on a recognition of these differences, the
course then asks students to consider how they can effectively and responsibly do business with, and in,
emerging markets.
Aims
The over-riding aim of this course is to prepare students to do business in a range of developing and
emerging countries, recognizing the potential and the challenges of operating in such countries. By the
end of the course students should be equipped with the knowledge, understanding and capabilities to
operate effectively and responsibly in emerging markets.
Learning Outcomes
On completion of the course, students will be able to
1. Identify the potential and the pitfalls of doing business in emerging markets. (LO1)
2. Comprehend the economic, political, and legal environments that predominate in emerging markets
and how differences in these from developed markets impact business decisions. (LO2)
3. Adapt or develop a product or service to the particular needs of emerging market consumers,
reflecting their specific requirements and purchasing power. (LO3)
4. Develop appropriate strategies to deal with the particular management challenges of operating in
emerging markets. (LO4)
5. Be able to develop strategies which provide a societal benefit to emerging markets that are being
served and that recognizes and accounts for the ethical challenges of operating in emerging markets.
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 (LO5)

Indicative Contents
The course will, inter alia, consider and address the following questions:
What is meant by the term ‘emerging markets’? How does this differ from ‘developing and
underdeveloped markets’ ‘third world countries’ ‘BRIC’s’ ‘less developed countries’ and the rest?
Why are multinational firms so attracted to emerging markets? What economic and demographic factors
fuel this attraction?
What are the economic, legal, socio-cultural, and technological characteristics of emerging markets and
how do these differ from developed country markets? How does this impact how businesses should
operate in these markets?
What is meant by ‘living with less’ and how does this impact the populations of developing countries in
terms of their relationships with physical goods, living necessities, time, space, family, friends, authorities
and other aspects of daily life?
How has globalization impacted developing countries and how effectively have global trade bodies and
agreements assisted their development?
How does ‘living with less’ impact consumption behaviour and how does it impact how people work and
relate to each other in a business environment?
What are some of the commonly encountered ethical issues when doing business in emerging markets
and why is it important to consider social benefits of business activities there?
What does the future hold for emerging markets? What are the prospects for developing country
multinational companies?

Teaching Method
The teaching method for this course will try to utilise an activity based approach where possible – this is
based upon student doing and thinking where possible rather than through listening to the more
conventional ‘lecturing’ approach. Activities will involve a wide range of in-class exercises and activities
such as case discussions, video and newspaper article analysis, experiential exercises, and small group
discussions. Students are required to have made appropriate preparations for each class which will
include pre-reading assigned articles and cases.

Measurement of Learning Outcomes

Integrated class activities (LO1-LO5)
Continuous understanding of concepts is developed and tested through integrated learning exercises,
held each week in the scheduled class meeting. A high proportion of the final grade is dependent upon
participation in these activities. At the conclusion of each weekly exercise, students are encouraged to
discuss what they have learned from the activity and to ask follow-up questions.
Experiential exercise and reflective essay (LO2-LO3)

Living on US$4 a day or less is the norm for much of the world’s population; luckily most of our students
have never had to experience anything like the level of deprivation that most of the world suffers as a
daily condition. This experiential exercise is designed to give a taste of ‘third world’ life to our students,
asking them to not only think about, but to partially experience living on a severely restricted income for a

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very short period of time. The exercise asks students to consider and encourages students to partially
replicate living conditions which approximate life in many developing nations: this includes things such
as, restricted access to food and water, periodic breaks in electricity supply and (for many of our students
most frightening of all) no access to the internet.

The purpose of the exercise is for students to understand, at the most basic physical level, the
deprivation felt by many of the world’s lower income citizens, the desperation and powerlessness it can
engender and to allow students to understand the conditions that much of the world’s population lives in.

Students need to prepare a 3-day log of their consumption, across a range of categories, then compare
this to consumption in poorer countries. They then need to prepare a reflective essay (1500 words)
stating how ‘living with less’ may change people’s attitudes and relationships across a range of factors,
and how this may impact consumption patterns and the nature and level of demand.

The essay should be submitted to Moodle by 23:59 on Wednessday October 9th 2024

Mid-term case-study test (LO4)

The quiz will be in the form of a pre-distributed case study to be answered in class. The case study will
focus on managerial issues, considering the particular challenges of managing a workforce in an
emerging market enterprise. Students will answer two short essay questions.

The mid-term test will take place in class at 9:30 a.m. on October 16th 2024

Group project and presentation: Developing a service/APP for developing markets (LO1-LO5)

The project asks students to build on the knowledge gained in the early weeks of the course and through
the experiential exercise to develop either a service or a smartphone APP that could be introduced in
emerging markets. Students should prepare some form of marketing plan that indicates the nature and
features of the service/APP together with a clear identification of the target market and some idea of
pricing, promotion and how it can be accessed by the intended users.

Students will need to identify which potential emerging markets the service/APP is intended to be
introduced in and consider fully the economic, political and social conditions that exist in that/those
market/s. Students projects and presentations will be graded on the basis of the feasibility of the
service/APP, the ability to implement the service/APP in developing markets and the social value created
by the service/APP.

Students, in groups of 4 or 5, depending on class size, will submit a 2,000 word report and also make a 20-
minute presentation in class.

The presentations will be made in class on the 13th November 2024 Please upload the powepoints you
will use in class before 23:59 on Tuesday 12th November 2024 so I can share these with other students.

The group reports must be submitted through Moodle before 23:59 on Tuesday 19th November 2024

Participation and peer review (LO1-LO5)

Participation will be based on both regular and punctual class attendance, and ongoing participation and
leadership in classroom exercises and activities (5%). At the conclusion of the group project students will
complete a ‘peer review’ exercise of their group members, focusing on group leadership and contribution
(5%)

Final Examination (LO1-LO5)

The final exam will cover all of the materials on the course and will be in essay form.

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 Assessment
(1) Continuous Assessment: 60%
Individual experiential exercise and essay (15%)
Mid-term case-study test (15%)
Participation and peer review (10%)
Group Project and Presentation (20%)

(2) Final Examination: 40%________

Total: 100%

Essential Reading
S Tamer Cavusgil, Pervez N. Ghauri, Leigh Anne Liu. Doing Business in Emerging Markets (3rd Edition)
Sage publications (2021)

Recommended/Supplementary Readings
Sudhir Rana, Avinash K. Shrivastava (editors). Doing Business in Emerging Markets: Progress and
Promises (Advances in Emerging Markets and Business Operations)’ (1st Edition) Routledge India (2021)
Atanu Adhikari (editor) Services Marketing Issues in Emerging Economies (1st edition) Springer (2020)
Cosmina Lelia Voinea, Cosmin Fratostiteanu Corporate Social Responsibility in Emerging Economies:
Reality and Illusion (1st edition). Routledge Studies in Business Ethics (2020)
Jim O’Neill The Growth Map: Economic Opportunity in the BRICs and Beyond,. Portfolio (2011)
), C. K. Prahalad The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits (25th
Anniversary Edition). Wharton School Pubishing 2009

Important Notes:
(1) Students are expected to spend a total of 6 hours (i.e. 3 hours of class contact and 3 hours of
personal study) per week to achieve the course learning outcomes.
(2) Students shall be aware of the University regulations about dishonest practice in course work, tests
and examinations, and the possible consequences as stipulated in the Regulations Governing
University Examinations. In particular, plagiarism, being a kind of dishonest practice, is “the
presentation of another person’s work without proper acknowledgement of the source, including exact
phrases, or summarised ideas, or even footnotes/citations, whether protected by copyright or not, as
the student’s own work”. Students are required to strictly follow university regulations governing
academic integrity and honesty.
(3) Students are required to submit writing assignment(s) using Turnitin.
(4) To enhance students’ understanding of plagiarism, a mini-course “Online Tutorial on Plagiarism
Awareness” is available on https://pla.ln.edu.hk/.

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 MKT2243 – Doing Business in Emerging Markets
Summary Course Outline

Week Topic / Activity Reading

4/9 Course introduction Chapter 1, 2, 3, 4 – Cavusgil et
What are emerging markets? al
Why are emerging markets so important?
Introductory class exercise

11/9 The economic environment

Living on less exercise

25/9 The political environment Case: Starbucks in Russia

2/10 The technological environment Chapter “The roads to the heart

of the world” from The New Silk
Roads – Peter Frankopan

9/10 The socio-cultural environment Case: The Brazilian “little way” of

Submit reflection on experiental exercise doing business

16/10 Mid-term test case study

Preparations for group project

23/10 Understanding the emerging market consumer

Exercise: Supermarket vloggers of the world!

30/10 Understanding the emerging market worker Chapter 6, 7 – Cavusgil et al

What motivates emerging market workers? Case: An expatriate manager in
Thailand
6/11 Understanding competition in emerging markets Case: Chery goes to Brazil

13/11 Group Presentations

Submit group reports

20/11 Ethical issues in emerging markets Case: Nestle Milk Powder

27/11 Emerging market companies overseas

4/12 Course review and exam preparation

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 MKT2243 - DOING BUSINESS IN EMERGING MARKETS
PARTICIPATION AND PEER REVIEW
MARKING AND ASSESSMENT RUBRIC

Criteria Good Satisfactory Poor Marking Weight

8-10 5-7 0-4

Attendance Full, punctual Occasional absences Frequent or *0.2=

attendance in class or lateness from class recurring absence
and mandatory or mandatory or lateness from
seminars seminars (1-4 times) class or mandatory
seminars (More
than 4 times)

Class Active class Passive class Lack of *0.3=

Participation participation and participation and participation or
leadership in group active in group active disruption
activities activities of class and group
activities

Peer review Peer comments Peer comments Peer comments *0.5=

indicate leadership indicate full indicate a lack of
Comments
and project participation and participation or
ownership section ownership ownership

Total Score

ADDITIONAL COMMENTS

Assessed by: ______________________

Date: ________________

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 MKT2243 – DOING BUSINESS IN EMERGING MARKETS
MID-TERM CASE STUDY QUIZ
ASSESSMENT AND MARKING RUBRIC
Criteria Good Satisfactory Poor Marking Weight
8-10 5-7 0-4

Understanding of Mastery of course Knowledge of most Serious deficiency in *0.5 =

course materials materials. topics already knowledge of topics
Extensive covered but with already covered.
knowledge and gaps in knowledge or Unfamiliarity with
understanding of understanding of key key terms and
key terms and terms and concepts. concepts
concepts.

Ability to apply to Proposes solutions Proposes solutions Proposes solutions *0.5 =

case study setting and actions that but doesn’t outline or actions that will
will lead to actions needed to not resolve the case
resolution of case resolve case issues issues
issues

Total Score

ADDITIONAL COMMENTS

Assessed by: ______________________

Date: ________________

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 MKT2243 - DOING BUSINESS IN EMERGING MARKETS

INDIVIDUAL ASSIGNMENT
MARKING AND ASSESSMENT RUBRIC

Criteria Good Satisfactory Poor Marking

8-10 5-7 0-4 Weight
Keeps a detailed Clear and detailed log of all Clear log but lacking in Only partially completed *20%=
consumption log consumption across the detail in at least some of consumption log missing
various categories the categories or failure some categories
including ‘hidden’ to identify ‘hidden’
consumption consumption

Comparison of Identifies in detail the Identifies some of the Fails to identify many of the *20%=
developed vs consumption differences – consumption differences in consumption
emerging in content and amount – differences between between developed and
consumption patters between developed and developed and emerging emerging markets
emerging markets markets, but lacks detail

Consideration of Considers how ‘living with Considers how ‘living Fails to recognize the broad *20%=
multiple less’ may impact with less’ impacts implications on relationships
relationships relationships in a wide relationships - but of ‘living with less’
impacted by range of categories, social, misses some key factors
deprivation physical and emotional

Reflections on Is able to fully identify how Partially identifies how Provides only a cursory or *20%=
‘deprivation’ and the the state of deprivation may the state of deprivation incomplete perspective on
impact this may influence consumer may influence consumer how the state of deprivation
have on consumer psychology and nature psychology and nature may influence consumer
psychology and levels of demand across a levels of demand across psychology and nature levels
behaviour range of product / service a range of product / of demand across a range of
categories service categories product / service categories

Provides a clearly Professionally written Competently written but Difficult to real or follow *20%=
articulated written submission, clear and easy with unclear structure or main points, poorly laid out
paper. to read with very few significant grammatical or with poor grammar.
errors. errors.

Total Score

ADDITIONAL COMMENTS

Assessed by: ______________________

Date: ________________

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 MKT2243 - DOING BUSINESS IN EMERGING MARKETS
GROUP PROJECT AND PRESENTATION
ASSESSMENT AND MARKING RUBRIC

Criteria Good Satisfactory Poor Marking

8-10 5-7 0-4 Weight

Identifies the exact Clear accurate description Some lack of clarity over Very unclear as to the * 0.10 =
nature of the with APP mock-ups or what APP or service intended nature or purpose
service/APP to be service guidelines actually does of the service or APP
introduced

Considers the Fully considers the Considers some aspects of Fails to consider important *0.20 =
economic, legal and economic, legal and social the economic, legal and aspects of the economic,
social environments environments and draws social environments and legal and social
implications draws some implications environments and does not
draw implications

Develops a Clear, detailed, statement of Clear but limited Fails to provide statement of *0.2 =
comprehensive target market and the statement of target market target market and the
marketing plan marketing mix to be adopted and the marketing mix to marketing mix to be adopted
be adopted

Considers feasibility Fully considered how the Some consideration of Failure to consider how the *0.2 =
and implementation service/APP may be how the service/APP may service/APP may be
issues implemented and what be implemented but implemented and what
difficulties may be faced limited recognition of difficulties may be faced
difficulties to be faced

Considers the social The service/APP provides The service/APP provides There is no obvious social *0.1 =
value created by the clear social value to users limited social value to benefit to users and society
service/APP and society users and society

Delivers a professional A smooth, well-structured A satisfactory A poor presentation that *0.1 =

well-structured presentation with clear data presentation although with displays a clear lack of
presentation of and conclusions. Well- mistakes in data presented preparation and significant
findings handled answers to or showing signs of lack flaws in information
questions. of preparation. presented.

Delivers a professional A fully professional business A satisfactory business A poor report, confusing in *0.1 =
written report of report with good formatting, report although missing structure or grammar. Fails
findings use of tables and charts, some key elements or to provide adequate tables,
referencing and appendices lacking in structure or charts, referencing or
grammar appendices

Total Score

ADDITIONAL COMMENTS

Assessed by: ______________________

Date: ________________

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 MKT2243 - DOING BUSINESS IN EMERGING MARKETS
FINAL EXAM MARKING RUBRIC

Criteria Good Satisfactory Poor Marking Weight

8-10 5-7 0-4

Indicators Mastery of course Knowledge of most Serious deficiency 100%

materials. Able to topics but with gaps in knowledge with
apply concepts to in ability to apply inability to apply
business situations concepts or concepts or to
and express ideas weaknesses in ability express ideas.
clearly and to express ideas.
logically.

Total 70-100 45-69 <45

Score

ADDITIONAL COMMENTS

Assessed by: ______________________

Date: ________________

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