Abstract:

Three major areas will be discussed in this paper: first, the rapid industrialization of East and Southeast Asia as the region becomes a major partner in the global economy; second, suggested methods for defining potential markets in these developing countries; and third, critical prerequisites for entry and expansion into the East and Southeast Asian markets. The countries of East Asia to be discussed are China, South Korea, Taiwan, and Hong Kong. Although Japan is also located in East Asia, it is currently in the Triad and is far from being considered an emerging power. Japan will only be discussed as a reference point for the other countries. The countries of Southeast Asia that will be discussed are: Thailand, the Philippines, Malaysia, Singapore, and Indonesia. The emergence of countries in Asia as major players in the global economy is in itself a significant shift as the world market restructures itself for the twenty-first century. Most importantly however, this shift in the global economy calls for a major adjustment in the thinking processes of both the West and the East. Perceptions from both sides of the globe influence access to these emerging markets. They also limit the ease and speed of obtaining the advantages offered by these new markets. Measurable methods of defining the market potentials in East and Southeast Asia include both old and new ways of market segmentation, critical examinations of economic indicators, and a consideration of a country's current level of industrialization. Actual strategic research examples derived from market research studies during the last 10 years will be used to further illustrate the issues discussed in this paper. These real-life experiences were gained while working with major pharmaceutical companies as they tried to establish, or to re-establish themselves, in this region of the world. The products and companies included in these case histories have been disguised to protect the proprietary nature of strategic information acquired for the pharmaceutical organizations