Cultural Dynamics and Marketing Strategies for Emerging Markets : Characterization of Group Subcultures and Consumption Preferences

Emerging markets (EMs) collectively represent more than half of the world population with rapidly increasing purchasing power. In spite of recent advances, consumer research of EMs is limited in scope and concept development and thus inadequately reflects EM realities in comparison with theories developed in and for the Western societies. Characterization of the dynamic changes in cultural ecology in EMs became an important area in need of conceptual and empirical research. The present study introduces a new conceptual framework — Taxonomy of Cultural Ecology — to better explain the cultural dynamics in EMs and predict changes in consumption preferences at a social group level — a key target for effective marketing strategies. Conceptual findings are connected with managerial implications relevant to marketing strategists, advertising managers and leaders of multinational corporations