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Stages of Market Development (Low Income Countries (GNI: $1045 or less,…
Stages of Market Development
Lower Middle Income Countries
GNI: $1046 to $4125
Rapid expands consumer market
Cheap labour
Low Income Countries
GNI: $1045 or less
Limited industrialization
Low literacy rates
Politically unstable
Sub Saharan Affrica
Upper Middle Income Countries
GNI: $4126 to $12745
Rapid industrializing
Rising wages
High literacy rates
High Income Countries
GNI: $12,476
Advanced and developed industry
Sustained economic growth
High ownership level from households