UT has courses on emerging markets.
The role of students from emerging countries.
Field course: travel to different countries.
Multi-media material to use in such courses: typical Indian shopping mall, Japanese grocery market.
Read about your own culture!

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Practice:

Japan's experience: used to be an emerging market. P&G announced price following its US practice, while local companies liked to transact "in private". They turned out to be successful.

Price is important. What else?
--Cell phone in Inida. People have much more expensive phones.  Use behavior is different. Need to understand it!
-- Store layout: grocery shopping, malls.

Adapt to cultural differences: Being students of history helps.

What is culture? Is corruption a culture? It may change in short period of time. Culture is not an excuse for inefficiecy.

Process innovation can be driven by local norms. On the other hand, technology can prove to be great solutions to developing regions. E.g. IDC (who benefits, who do not?)

Partnership: long-term relationship in Japanese culture. They tend to move slowly, relative to Chinese counter-parts.

Motivation/incentive of host government has a large impact. Therefore we need to gain a true understanding of this.

Infrastructure: ethonal. Brazil is far ahead of us. While US is lagging behind.

First mover vs. second mover advantage when going to an emerging market.

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