Procter & Gamble is among multinational companies that expect growth potential not only from the developing world, but also in the U.S. L'Oreal Chairman and CEO Jean Paul Agon called the U.S. an "emerging market" after the company posted more than 7% growth in North American sales in each of the last two quarters of 2012. "Some marketers are turning attention back to the U.S. because they've underinvested here or are responding to increased competition," Jack Neff writes.

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