Emerging Marketing Essay Example | Topics and Well Written Essays - 2000 words

Emerging Marketing - Essay Example The emerging markets' countries are rapidly growing economically and are characterized by fast growth in infrastructure, manufacturing industries, general industries and have matured politically and socially. These factors have been the key movers of the economy. However, these countries are also facing certain challenges. Some of these challenges pose great risks and may discourage investors and laborers if they are not well addressed. Emerging countries have been trying their best to address these challenges in different ways. No wonder there is a great influx of people of all walks of life to Mexico every year (Li, n.d). This paper will analyze Mexico as an emerging market, opportunities and challenges faced. Global Overview Mexico is the 14th largest country by total land area and the 11th most populous country in the world today. It is made up of 31 states and one federal district with Mexico City as the capital, housing most important administrative and legislative offices. The city is among the largest in the world with a population of ore than 20 million people. Mexico has an interesting history. It had many ancient civilizations, including Maya, Aztec, Olmec, Zapotec, African, Toltec, Inca, French and Spanish. The country is accredited for having the first printing press in North America and for introducing chilies, chocolate and corn to the world. Mexico got independence from Spain in 1810, and the constitution was introduced in February 1917. The Mexican government is made up of the legislature, the executive and the judiciary (World Fact Book, 2013). Social Factors Mexico has a population of about one hundred and twelve million people. About fifty-one percent of the population is women, and the remaining forty-nine percent are men. The wealthy represent just about ten percent of the Mexican population yet they control more than 90 percent of the economy. Majority of Mexicans are poor and the economic changes that are witnessed there currently have b een changing this. The very poorest population in Mexico account for just about 1 percent of the economy while the rich 10% absorb more than forty percent of the economy. Poverty levels have been decreasing, and the middle class group has been increasing exponentially. Mexico has one of the fastest growing middle class populations in the world today (Johnson, 2012). Economic Factors Mexico has been changing rapidly in the last three decades, thanks to the policies and reforms introduced by the government in the late 1980s and early 1990s. This played an important role in changing the economy of Mexico at that time, and that pace has been gaining momentum year after year. There are several statistics that can be used to show these changes. Take, for example, the trade with United States, the major trading partner of Mexico. The value of goods traded between the two countries was about 130 billion dollars in 1997. The value increased to a staggering 450 billion dollars in the year 201 1. That is close to four times the 1997 value (Villarreal, 2012). Mexico has many resources, which have been attracting investors from across the world. Other emerging markets countries are becoming expensive to live in and to set up industries. A study by Damien Cave, A renowned New York Times writer indicates that Mexico is attracting many immigrants every