By Nirmalya Kumar
World category advertising specialists, Nirmalya Kumar and Jan-Benedict Steenkamp set out a state-of-the-art plan for rising industry manufacturers to be successful in foreign markets. model Breakout outlines 8 concepts - together with the Asian tortoise course, from B2B to B2C, model acquisition and leveraging cultural assets - that would take manufacturers from family dominance to around the world triumphominance cultural assets rand will cross global.kground .
For every one strategic direction, Kumar and Steenkamp research the simplest implementation in addition to picking out the issues that businesses will face and the way those might be triumph over. packed with case experiences from world wide together with HTC, Tata cars, Samsung, Lenovo, Pearl River Piano, Havaianas and Corona, the authors show that their innovations and underlying strategic brand-building rules are the following to stay.
Brand Breakout isn't just a pragmatic and enlightening advisor for rising marketplace manufacturers yet the most important analyzing for Western businesses who usually are not underestimate the problem coming from those up-and-coming foreign companies. by way of knowing their ideas and luck elements, Western businesses can plot their counter-strategies for this new company environment.
In this enticing and illuminating booklet, model Breakout equips readers with the data and strategies in order that their model can eventually pass global.
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Extra info for Brand Breakout: How Emerging Market Brands Will Go Global
The truck has traveled to big US cities to showcase Haier’s broad product range at festivals such as the “Taste of Chicago,” a huge annual food event attended by Haier’s key target market. There, it has staged cooking and other demonstrations from the truck. These investments are paying off. Haier’s brand awareness in many product categories has tripled or more from just five years ago. 15 Businessweek has recognized it among the 50 most innovative companies in the world. Achieving such international recognition and financial growth in less than 20 years makes Haier, for the moment, one of the most successful global consumer brands to emerge from China.
And, as with all ambitious strategies, some will fail. Nevertheless, the principles underlying the eight routes to global brands will remain. Managers of emerging market companies should find this book useful in taking their brands global. But it would be a fatal mistake if managers of Western firms believed that this book was not for them. A golden rule in strategic management is that understanding your competitors is a crucial prerequisite for being able to develop effective counterstrategies.
Haier, Hisense, Pearl River Piano, and South China Tire & Rubber Company) are pursuing what we consider the mother of all routes. The basic principle is to enter a developed market with a decent product, sold initially at the lowest entry price possible. This cheap product provides access to price-sensitive consumers. Subsequently, the aspiring global brand increases quality and price, attacks the next lowest segment, and so on up the market, until it achieves a dominant position. Finally, it assails the premium segment, usually with a high-end product and premium brand, such as Lexus of Toyota or Acura of Honda.