How to Create a Global Market Position
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- June 27, 2022
- By Kester Talbot
- in Business
- 0 Comments
How can you create a global market position? This article will provide you with some basic insights into global market positioning. In this article, we will discuss the sources of marketability information and the process involved in identifying relevant products. Next, we will discuss how to monitor product availability, price trends, and promotional offers. Ultimately, we will look at how to maximize your global market position. Then, we’ll discuss the importance of coordinating your competitive positioning with your distribution network.
To build a global market position, a firm must have a presence in key growth markets and retain strategic flexibility. It should also be able to respond to shifting international market conditions. This means that a firm’s global market position largely depends on its ability to manage assets and capabilities. This ability to optimize the use of resources is known as a configural advantage. It can be built by integrating activity systems across markets. The ability to integrate activity systems across borders is crucial as international markets become increasingly integrated.
The geographic scope of a firm’s operations will determine the level of competition it can expect. In one example, Procter and Gamble exploited the product innovation of a competitor. Kao was a Japanese company that developed super-absorbent diapers, overtaking P&G in Japan. However, P&G responded by creating a super-absorbent version of its Pampers and aggressively marketing it across a global distribution system.
In today’s world of social media, global impact is more important than ever. With global impact, a company’s power and size increase. A burger joint in the United States would have to adjust its menu in order to compete in an Indian market that is predominantly plant-based. Adapting to a diverse range of languages and cultures is critical to global marketing success. You’ll find this out if you use social media effectively.
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