By David Arnold
"In The Mirage of world markets, David Arnold unearths why many multinationals are literally wasting worldwide industry proportion even whereas their foreign sales are expanding - and the way the area is swiftly accelerating towards "segments of one." subsequent, he bargains a complete new blueprint for maximizing profitability in an international of neighborhood markets." "You'll observe the serious ways that overseas advertising is Read more...
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Additional info for The mirage of global markets : how globalizing companies can succeed as markets localize
Example text
The best international marketing managers know where to draw the line between global and local decisions. In addition, the best international marketing companies insist on the highest managerial standards in areas such as market assessment and the management of local distributors, challenges unique to the international marketing context. The remainder of this book addresses the specific challenges of international marketing from the perspective of the international company. fm Page 27 Tuesday, July 1, 2003 4:53 PM c 2 h a p t e r Assessing Market Potential: Estimating Market Size and Timing of Entry A lthough the Internet boom grabbed all the headlines for speculative excess and managerial misjudgment in the 1990s, there was another decision-making arena in which western executives seriously underperformed—market assessment and entry decisions, particularly with regard to large emerging markets such as China.
In many countries, especially those usually categorized as “emerging markets,” market research is either simply not available or not feasible (most often in terms of cost). This might be because of a lack of the infrastructure necessary for market research, such as telephones or trained interviewers, or because customers simply lack any experience in the product category. Almost always, it is impossible to recruit a sample that is even close to representative of the target market population. This explains the lack of analysis underpinning many entry strategies and the reliance on published country data.
The fundamentals of market analysis remain as valid in emerging markets as everywhere else—the level of demand and likely market share will depend upon price levels relative to disposable income, competitive intensity, market segmentation patterns, and customer behavior and psychology. The third major pitfall is to rely upon senior executives’ network of contacts as the basis for market selection. In fact, this amounts to abstaining altogether from assessment of candidate markets and substituting entry into a partnership for entry into a market.