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Ecuador: Economic Development & International Marketing - Coggle…
Ecuador: Economic Development &
International Marketing
Marketing in a developing country
In Ecuador, the marketing is limited by the level of education that has from the public education and its reach to the general population.
when you ta about a tv commercial, probably you don't want that the ad make people thinks, but, if you are making a internet campaine, you can be more complex with what you want to transmit because you focse the ad to the people that you want
The Ecuador it's just beginning to use the internet around the country and, since the pandemic, the population and the companies had to adapt themselves to the internet as a new way to buy/sell, communicate and provide/use services, informs says that the ecuador went ahead 10 years in that sense
Demand in Developing
Countries
The products in demand depends on what sector of the population you are focusing, are 3 sectors, the rural sector, the urban sector and the transitional sector
The rural and transitional sector demand basic products in small sizes due to the lower salary that earn that sector, and with technology becomingcheaper, that sectors demands cheap enternteiment as TVs too.
In the other hand, the urban sector has higher incomes and can afford daily purchases of non-necessary products as cups of coffee or eating out, they can afford consoles or other types of entertainment
Marketing in the Third World: Teaching,
Pricing, and Community Usage
The companies have to adapt their products to the local economy, including size, portions, price and in some cases they have to teach them even how to use the product
In Ecuador, the minimum wage its $400, and less than 5% of the population earn more than $1000, that its a fact that need to be considered when your are making marketing on the Ecuador
That means that most of the citizens in Ecuador make their purchases weekly, even daily and not many made it monthly so it’s necessary that the companies makes smaller presentations of their products, if in the USA consumers buys a shampoo of 7 ounce, in Ecuador many couldn’t afford that, but it could an ounce or less
Big Emerging Markets
The big emerging markets represent the future of the global trade, including them in the global GDP as a big contributors that start competing with big developed markets as the German or Japan markets.
Ecuador don't have the population or the production necessary to be on the big emerging markets but have the raw material, talking in middle terms, if the ecuador develop their education and industry it can be on the sight of the big markets to be related and considered to entry in global markets trades.
Strategic Implications for Marketing
This show us that the marketing on the emerging markets needs to adapt as fast as the spending patterns.
In Ecuador, as the technology become cheap, the consumers with low incomes spend more money on it because gives them a sensation of progress and families are bigger with more incomes due the size o the family and the people who contribute money.
In other way, as the country becomes more industrialized, more people earn a higher quantity of money, and more people doesn't want to move from their parents house due the spend that represents lives in an own floor, that means more household purchasing power and save capacity.
The Ecuador have a constant increase on the average wage, witch is important to determine the purchase pattern of the region, for that reason many patterns are changing and that shifts the standards of life, enterteimente and social behavior.