GMM Lecture 4

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Market Strategy B

There are three phases in global market development are (Douglas and Craig):

1. Initial international market entry - which country, timing of entry, entry strategy
2. Local market expansion – build on knowledge, experience and contacts to identify new opportunities and adapt to the local environment and changes
3. Global rationalisation – global and regional market segments, with products marketed on a worldwide basis

It’s the good old standardisation versus adaptation argument, where the former argues that consumer tastes are converging and the latter points out the huge number of different markets and cultures, stressing the need to adapt to local tastes.

Discusses Porter and his essay on integration, co-ordination and configuration of activities (See Strategy, Independent Research).