Brands should increasingly be thinking on a global scale with their marketing campaigns in order to tap into the benefits offered by the growth of the internet in developing countries, according to a new poll of the world’s top executives.
The study by management consultancy McKinsey & Company found that 64 per cent of bosses believe the expansion of the consumer base in emerging markets will have a very or somewhat positive impact on profitability in the years ahead, up from 58 per cent in March 2009.
Another 63 per cent thought that the growing reach of the internet, which could increase the potential audience for search engine marketing by billions, will also help to boost profits.
Indeed, over half (54 per cent) of the executives questioned said that they are already building a local presence in developing economies, while another 50 per cent are looking to establish partnerships or joint ventures with brands based in emerging markets.
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