BRICs kid brother
Everyone talks about the BRICs. The term is thrown around with gravitas by folks that don't even have passports, much less on the ground experience in those countries. And while their continues to be growth in those markets, their stories are well know. And with a well known story, often comes crowded markets and other frustrations.
But what about other groups of countries? CIVETS? "The next 11"? Or even the US Dept of Commerce's list of focus markets?
Chitter Chatter or Pitter Patter?
If you are an academic, you may be satisfied with the intellectual excercise of projecting trends and exploring hypotheticals. If you are a business person you want to tap veins of growth and penetrate exciting, fruitful markets.
Depending on your product and target market the BRICs may well be important targets. But you simply cannot overlook the "next wave."
Obviously Egypt has substantial challenges to work through (as this is written in June '11) related to the ongoing uncertainty following February's "hand-off" of power. But of the others, Turkey has been a commercial power house for millenia; Indonesia is one of the world's most populous countries; Vietnam is surpassing China as a manufacturing hub by some measures.
Any global market development plan should be focused on finding reasons these markets should be disqualified - and absent any, active engagement in as many, as early as possible.
Breadth & Depth
A global business development program has to include some "hedging" of bets. You need to select markets carefully with the goal of finding profitable opportunities with short ramp-up times. Yet you will make mistakes and therefore need to also have breadth so that you achieve successes despite some mistakes.
Put the CIVETS on your list for very strong consideration.