Pitfalls/Risks of Research in Emerging Markets
Discuss About The Marketing Communication Decision Making.
Emerging economies can be defined as the markets and countries of the world where the economy has not reached the fully developed state but the macroeconomic factors are present in the country that has placed the country ahead of all the developing counterparts in terms of market and economy (Ramamurti 2012). There are a number of countries in the South-East zone of the world that is under the umbrella of emerging economies and the market in such an economy is prone to a number of problems and challenges that has to be borne by the market researchers of those countries. The researchers of the countries of the South-East zone especially Indonesia face a number of problems in the conduction of market researchers and so there are a number of implications that has to faced by the market as well as the person conducting the business (Yang and Cui 2012). The following paragraphs highlight the different challenges or pitfalls of research that is being faced by the emerging economies of the world. The different types of risks are also mentioned and analysed in them.
One of the major challenges of the emerging markets of the world is the problem of culture and language that the market researchers are facing in the country of Indonesia. The country of Indonesia is one of the varied countries in the world in terms of culture and language. There are a number of cultures that the people of the country have as the population of the place is varied and is a mixture of different races and customs. The language spoken by the people of the country is also varied as with English, there are a number of other local languages that are also spoken (Mappiasse and Sihes 2014). English is the official language of the country though the local people of the country tend to speak mostly in local languages and indigenous language groups. The difference in languages and customs of the country has made the research of the market a risky affair as the marketers have to deal with a number of people with different cultural and linguistic background to make the whole process of operation of business successful (Kitley 2014). The conduct of business in Indonesia is a lot dependent on the various language and culture variations of the country which has a mixed implication on the country and the business.
Implication of the Challenge
The implication that is being faced by the problems of the language and culture of a particular place of Indonesia is that the people of the country is more prone to using local language and using their own ethnicity when it comes to business and conduction of research. The language barrier is of foremost importance as a major section of population of Indonesia is not aware of English language and their uses though the official language of the country is English. All the business transactions of the country is done in the form on English and like this the market research is also done in English which is majorly incomprehensible for the local people of the country making it one of the major problems of the market research of the particular country. The barrier of culture is another major problem that is being implemented in the country. Indonesia is a hub of various kinds of people belonging to various cultures of the world and so when the market research is done on the basis of a single culture and society, it becomes one of the major problems for the people of the country (Musgrave 2014). The implication of the challenge faced by the language and culture and therefor major and has to be considered and acted upon by the people of the research very tactfully.
Technological advancement of a country plays a major role in the overall business circuit of a particular country including Indonesia as with the development in technology especially Internet in the modern zone, there is a probable chance of increase in the business model of a particular country (Amir 2012). The researchers of the country of Indonesia are taking the scope of technological advancements of the country to feature their role in the business arena in the emerging countries. However, the countries that are in their developing phase tend to be technologically backward with less number of people having an access to the internet and the allied facilities making this one of the major pitfalls for the market research of the country. The technological advancement play a major role in the overall market research of a particular country especially in Indonesia. The country has a record of having less technological literacy and so makes it one of the major risks for the market researchers who consider this as one of the major affirmative elements for the success of any business in a specific market of any country (Puspitasari and Ishii 2016). The lack of internet sources and the access to the various social media groups by the internal population of the country make the country one of the probable risk factor country in terms of business and marketing.
Technology and Internet
One of the major implications of the market research challenges of the country of Indonesia is the lack of technological knowledge among the layman of the country and also the lack of internet access in the major of the people of the country. The technological advancement of the country is majorly dependent on the amount of literacy that the country possess along with the amount of government intervene in the overall purpose of the country. The people of the country are comparatively less advanced in the field of technology which makes it one of the countries of the world that lacks the amount of business and industry that it requires in order to give employment to the population. The people of the country have less access to the technology and internet which makes it difficult for the business houses to reach the common people of the country (LiM 2013). The lack of presence of probable social media tools is again one of the vital aspects that make the market research of the country another big hassle.
One of the pivotal factors of any business or market research is the consideration of the political and government factor that measures the amount of risk associated with the business of the particular country within a stipulated period. Political inclinations and the positive role of government make sure that the country has the background to get maximum amount of business from the various kinds of the industries that are marking their presence in the country of Indonesia and the sister islands (Tomsa and Ufen 2013). The lack of political control in the present state of Indonesia along with the negative impact of the government on the business and market research of the country make it one of the major risks associated with the business of the country. The market researchers of the country have to deal with the number of negative impacts of the government of the particular country so that the researchers can make sure about the number of impacts of the country (Ritonga, Clark and Wickremasinghe 2012). Politics and government rule and impact plays a major role in the overall business scenario of every country and with Indonesian government, being on the verge of problems and dealing with issues on the edge make sure that marketers have ample problems of the country.
Politics and government pose one of the major threats in the lines of the implications of the market research. The people of the country have an inclination for the governance and the political scenario of the country. With a good government and political scenario, it can be expected to have a positive impact on the market and research of the country and also to make sure that the market is getting all the desired and required benefits from the government and the political scenario of the country. The implication of this challenge totally depends on the political scenario of the country and with the good amount of political implications, it is expected to be positive for the market researchers of the country. With negative implications, the market research of the country will attain a very low position making the country one of the least searched nations for conducting business operations.
Conclusion
In conclusion, it can be said that Indonesia is one of the emerging markets of the world with more and more people including business houses trying their luck in the developing nation of the world. The country of Indonesia is one of the major countries where the emerging market is making scope for better industrialization with its own level of market problems and risk factors associated with the same. The risk factors have been stated along with the desired implications for the same in different paragraphs which are also analyzed to make sure that the market researchers are getting their due in the business of the country. The country has its own pitfalls and effects of the risks associated making it a difficult place to conduct or set up business but with due recommendation and proper resolutions, the business scene can get proper renewal.
References
Amir, S., 2012. The technological state in Indonesia: The co-constitution of high technology and authoritarian politics. Routledge.
Kitley, P., 2014. Television, nation, and culture in Indonesia. Ohio University Press.
LiM, M., 2013. Lost in Transition? e Internet and Reformasi in Indonesia. In Reformatting Politics (pp. 115-136). Routledge.
Mappiasse, S.S. and Sihes, A.J.B., 2014. Evaluation of English as a foreign language and its curriculum in Indonesia: A review. English Language Teaching, 7(10), p.113.
Musgrave, S., 2014. Language shift and language maintenance in Indonesia. In Language, Education and Nation-building (pp. 87-105). Palgrave Macmillan, London.
Puspitasari, L. and Ishii, K., 2016. Digital divides and mobile Internet in Indonesia: impact of smartphones. Telematics and Informatics, 33(2), pp.472-483.
Ramamurti, R., 2012. What is really different about emerging market multinationals?. Global Strategy Journal, 2(1), pp.41-47.
Ritonga, I.T., Clark, C. and Wickremasinghe, G., 2012. Assessing financial condition of local government in Indonesia: an exploration. Public and Municipal Finance, Volume 1, Issue 2, 2012, 1(2), pp.37-50.
Tomsa, D. and Ufen, A. eds., 2013. Party politics in Southeast Asia: clientelism and electoral competition in Indonesia, Thailand and the Philippines. Routledge.
Yang, A. and Cui, Y., 2012. Global coal risk assessment: data analysis and market research. World Resources Institute Working Paper.
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