Global marketing - entering a new country with new product Term Paper - 1

Global marketing - entering a new country with new product - Term Paper Example The demographic profile of India also appears propitious for Costco to enter the country. India boasts of a young population and burgeoning middle class. The communication systems in the country are well developed and the government is committed to develop other infrastructural facilities in the country. When India gained independence in 1947, the country’s leaders adopted an inward-focused, socialist-style, economic framework. The economic goals were elaborated and pursued through the five-year plans. The banks were nationalized and their lending policies were aimed to meet the government targets with regard to priority sector lending. Private enterprises had little autonomy, to say the least. India remained a state-controlled  economy till the early 1990s (The Economist, 2011). The government-led Indian economy landed in deep trouble and faced a balance-of-payments crisis in 1991. The crisis provided the impetus for change and India embarked on the policy of liberalization, privatization and globalization. Since then, India has slowly but surely implemented reforms and has become a market driven economy (Wilson & Keim, 2006). India is the second most populous country of the world next only to China (See Appendix Figure 2-A: Population Pyramid). The total population of India is estimated to be more than 1.2 billion (CIA, 2014). The infant mortality rate in India is 43.19 deaths per 1,000 live births. The life expectancy at birth is 67.8 years. The population growth rate in India is expected to be 1.25 percent in 2014. India is likely to overtake China to become the most populous country of the world by 2030 (Haub & Sharma, 2006). The demographic profile of India is really attractive. India boasts of a pretty young population as 28.5 percent of the people living in the country are less than 14 years of age. 18.1 percent of the population is aged between 15 and 24 years. The