Growth in global consumer markets: Developing strategy for where and when
There is a growing need for more holistic and strategic ways to think about global growth. There is clearly a need for companies to look to other markets to expand their businesses. Many of the frameworks for considering growth are simplistic. BRIC (Brazil, Russia, India, China) is one phrase that has been used a lot, while MINT (Mexico, Indonesia, Nigeria, Turkey) is a relatively new term. It is good that the view is broader than just BRIC, but based on work done over the past few years, there is still an opportunity to provide more strategic guidance.
Growth is an imperative for most companies, especially today when entire economies are stagnant or bordering on recession. The need for growth must, however, be balanced against the resource required to explore growth opportunities, and the risk of failure if one enters a new market and the business underperforms. This balancing act is always the case, but it seems especially acute in this moment.