Петруненко Иван Ильич
Marketing strategies of companies operating in the emerging markets: the case of French retail banks in Russia
The paper addresses the marketing strategies of the companies operating in the emerging markets. Particularly, the author analyses the case of foreign retail banks’ activity in the Russian financial market. The paper provides the insight into the context of the emerging markets and their characteristics as well as the challenges they might represent for entrants. This exploratory study is focused on the concept of market orientation and its evolution in the developing economies. Accordingly, the author gives a description of the Russian market as a developing economy. The banking sector of Russia is analyzed in its evolution and in its current condition. The qualitative analysis suggests the foreign banks operating in Russia could perform better if they adjusted their strategies to the local specificities. Market orientation is found to be very moderately implemented by French banks in Russia as its dimensions are challenged in the new context.