While each market requires different adaptations, Bain & Company research and experience have found that emerging-market winners share common practices that we call the "six hard rules":

• They enter the mass market to achieve scale in distribution, brand building and operations
• They localize at every level, taking the time to learn and master local market complexities, such as distribution, packaging and consumer preferences
• They develop a "good enough" cost mentality, entering large and flourishing markets for what we call "good enough" products, with higher quality than low-end goods but affordable prices that still generate profits
• They think globally, but hire locally to provide a competitive edge in product design, promotion and distribution.
• They make sure local acquisitions have a strong business fit, for example by adding popular local brands, with a stronger distribution network
• Most of all, they organize for leadership by building dedicated emerging-markets capabilities

For multinationals, succeeding in emerging markets is increasingly essential in order to defend and increase their share of the global market. Ultimately, how they fare there is a key indicator of how they do everywhere else in the world. We have helped hundreds of multinational companies enter this burgeoning market, helping them devise strategies and long-term capabilities that become distinct advantages as growth slows in the developed world.

To find out more about Bain's work in this capability area, please contact the Strategy practice.