Stages of market development :-Global country markets are at different stages of development . GNP
per captia is a useful demographic sementation base. Using this base, we have divided global markets
into five categories.
Although the income definition for each of the stages is arbitrary,countries in the five categories have similar characteristics so the stages provide a useful basis for global market segmentation
and target marketing
. low-income countries , also known as “third world” or pre-industrial countries, are those with 1992 incomes of less than $400 per captia. The characteristics shared by countries at this income level are:
(A) Limited industrialization and high percentage of the population engaged in agriculture and subsistence farming.
(B) High birth rates.
(C) Low literacy rates.
(D) Heavy reliance on foreign aid.
(E) Political instability and unrest.
(F) Concentrated in South Africa of the Sahara.
The third world economy :-
A lots of other factors also effect in the marketing development process , particularly the third world countries
are normally slow develop or un develop .So it needs special marketing strategies to carry out the global business success in those countries.
Third world related news from web :-