Brand Building and Marketing in Key Emerging Markets – 25 Strategies and Frameworks for Brand Growth
In the upcoming months we will introduce the 25 strategies that will boost your business in the BRICs. Today, let’s start with how to find out which growth strategy fits your company.
A growth strategy that fits
Successful brands find the best fitting growth strategy for their expansion in the major emerging markets by considering the optimal degree of local adjustment and the right balance between efficiency and flexibility. There are four major options available:
A global strategy is most effective if the industry is subject to high pressure for global integration and is marked by very short innovation cycles. This includes for instance consumer electronics, mobile phones or luxury goods. In contrast, a transnational strategy is recommendable if your organization depends much on economies of scale and high efficiency but also needs to consider local adaption. Alternatively, if your organization operates in an industry marked by weak forces for global integration and – at the same time – low pressure for local responsiveness, then a home replication strategy might turn out to be the preferred approach. Finally, a multidomestic strategy might be the best option if the need for scale and standardization is not overwhelming but your organization needs to bow to significant pressure for localization.