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5.0 out of 5 stars The Brands of the Future, July 8, 2012
This review is from: The New Emerging Market Multinationals: Four Strategies for Disrupting Markets and Building Brands (Hardcover)
This is a bellwether book. It introduces the reader to the up-and-coming global brands that we may never heard of before but surely will in the not too distant future. Infosys and Lenovo and even Haier from China will be known to some, as will Infosys, Tata and Wipro from India, LG from Korea, Arçelik from Turkey and Natura from Brazil. But here you also get to know many new brands such as India's Godrej , Mahindra and Marico, Taiwan's HTC, Turkey's Mavi and Ulker, and Saudi Arabia's Savola foods, all famous household names in their home countries - and soon the world.
The authors in this welcome book on third-world MNCs take an in-depth look at 39 emerging multinationals and emerge with a challenge not only for lower-achieving emerging firms but also for established triad MNCs. Based on personal interviews, they clarify the strategies of the successful new competitors. They then develop a blueprint adaptable to any new entry or startup company, equally useful in emerging and developed economies.
Four different expansion strategies for emerging MNCs are identified, viz. Cost Leadership, Knowledge Leveragers, Niche Customizers and Global Brand Builders. While cost leadership is the traditional avenue to growth (with low wages), knowledge leveragers have only recently been recognized - the superior customization of emerging companies to the special demands at the "bottom of the pyramid."
But according to the authors the real action is now shifting to more ambitious managerial strategies. "Niche customizers" are emerging MNCs that become leaders in some sub-category segments where their products help create a new market. Haier's wine-coolers and compact refrigerators are cases in point. But the emerging MNCs are now becoming avid global brand builders as well, whether by acquisition (Lenovo, Tata) of by promotion of their existing brands (HTC, Mavi, Mahindra).
Naturally, this book is a must for professionals interested in emerging markets and learning about future competitors. But its appeal is broader than that. In today's Apple-obsessed world, it is good to remember the small start-up in a Palo Alto garage - and how quickly it came from behind to reinvent and overtake whole markets. Many of today's aspiring entrepreneurs can be found outside of Silicon Valley, even outside the U.S. Many also come from foreign countries - the same countries that now spawn their own entrepreneurs. This book helps you understand some of the best among them, and get a glimpse of the future.
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