Question

View the video, Ted Talks (2014) How not to be ignorant about the world. In a 2-3 page assignment response, initially include a general review of How not to be ignorant about the world and how the content relates to entering into a foreign market. Secondly, outline how marketing managers can utilize the content in the video to effectively enter the developing market of India.

Answer 1

The author asks three questions, namely how did deaths per year change in the last century from natural disasters, then how many years women aged 30 spent in schools and in the last 20 years how has the percentage of people living in extreme poverty changed. The answer for first was that it decreased to less than half, whereas most of the audience had chosen more than doubled. The second answer was 7 years while most of them selected 5 or 3 years. It says that the world thinks of the poor countries assuming that there has been no change except in the developed world, but there has been and that the media doesn't know themselves how has the world in totality changed. Life is not representative, with outdated books, personal and news bias. We assume that a foreign market is not as developed or we preconceive something else based on whatever knowledge and conclusion we have reached, which is often outdated. One should turn down misconceptions and start generalizing so that they don't have biased opinions while entering a foreign market.

The marketing managers can clearly see the GDP projections of country like India, which has huge consumption power and has a working class population with not much age dependency. They can read current material which reflects the true political and demographic situation to get the correct generalization and project further into the future to see how India is supposed to grow and not assume the worst.