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From the Cultural Typology of Economic Development by Mariano Grondona Choose Three Factors Which in Your Opinion Are the Most Supportive of Market Development

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Market development is a strategic step taken by a company to develop the existing market rather than looking for a new market. The company looks for new buyers to pitch the product to a different segment of consumers in an effort to increase sales. Market Development is a 2-step process to tap the untapped market

It begins with market research wherein a company does a segmentation analysis and short ists market segments which are worth pursuing. It is an attempt to use the existing product or service to attract new customers.

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Four of Grondona’s colleagues contributed to the expansion of the typology to embrace political and social, as well as economic, development: Irakli Chkonia, Ronald Inglehart, Matteo Marini, and I. I want to reemphasize Grondona’s characterization of the typology as “idealized.” It is also highly generalized. There is no monolithic culture; all cultures have crosscurrents to their mainstreams, and that is as true of the Argentine/Latin American culture that served as the model for the progress-resistant column of the typology as it is for American culture, the model for the progressprone culture. This is an extremely important point. As Boston University anthropologist Robert Hefner reminds us, “…this theme [of variety within cultures] allows us to recognize that even in relatively progress-unfriendly cultures, there are alternative streams at work, some of which may contain bits and pieces of progressive values.” Values can be grouped in a consistent pattern that we may call a ‘value system.’ Real value systems are mixed; pure value systems exist only in the mind, as ideal types

It is possible to construct two ideal value systems: one including only values that favor economic development and the other including only values that resist it. A nation is modern as far as it approaches the former system; it is deemed traditional as far as it approaches the latter. Neither of these value systems exists in reality, and no nation falls completely within either of those two value systems. However, some countries approach the extreme favorable to economic development, whereas others approach the opposite extreme.

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Altogether, culture does matter in economic development, and governments, development assistance institutions, think tanks, and universities must confront culture and cultural change

Incorporation of cultural analysis and cultural change into the mix of policy and project design factors may significantly accelerate the pace of economic development.

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