Understand Market First

What is a strategy to sell a product in a developing country? This question yet to answer in perfect manner, but here, we try to analyse things in people point of view. As one fine day, I went to airport and flight was late about 2 hours, at airport terminal, a big arcade has developed for shopping. I just stopped and start watching the buying pattern of customers. People was buying "valur for money" product whether it is cheap or expensive but ignoring average price product. Why this thing has happend? People in developed country prefer to buy 'status symbol' product and companies get a large number of customers for its niche product as well. But in developing countries, this trend is not working as expected. In developing countries, people first buy a low price product and test its quality. Later, they approved it as branded product.  Thus, we need to understand the market first and mind set of people before launching a  new product in market. "Expensive things always hot to sell" policy sometime not work at some places. We should understand geographical and demographic condition of people. These developing nations would be a new power in coming years and we should understand psychology of customers. On this basis, we should launch our product in the market.