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The New Emerging Market Multinationals: Four Strategies for Disrupting Markets and Building Brands Hardcover – June 8, 2012
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"Only four emerging-market brands make Interbrand's list of the world's 100 most valuable: Samsung and Hyundai of South Korea, Mexico's Corona beer and Taiwan's HTC.
How can others make the leap? "The New Emerging-Market Multinationals", a book by Amitava Chattopadhyay, of INSEAD, and Rajeev Batra, of the University of Michigan's Ross School of Business, offers some clues."--The Economist
"When I was in China several years ago, I felt that the firms there would eventually become leading global players. And now it's happening, and a new book, The New Emerging Marketing Multinationals by Amitava Chattopadhyay and Rajeev Batra (with Aysegul Ozsomer) explains how... This is the future, and this study provides an early view of what the winning competitors are doing and will continue to do."--David Aaker, Vice-Chairman, Prophet, in his blog, Aaker on Brands.
"this book is most gratifying because when a dark horse succeeds, it gives our inner dark horse hope that we too can get there"--Business Standard
"Un livre récent, The New Emerging Market Multinationals (Les nouvelles multinationales des marchés émergents, Editions McGraw Hill), devrait aider ces marques à rectifier le tir"--Le Monde
"This book gives deep insight into the new models and ways of doing business that are emerging from these new markets that will shape globalization, both in the new and the traditional marketplaces."--Jochen Zaumseil, Executive Vice President Asia Pacific Zone and Member of the L'Oréal Group Management Committee
About the Author
AMITAVA CHATTOPADHYAY is the L’Oréal Chaired Professor of Marketing-Innovation and Creativity at INSEAD. He has served as a branding consultant for firms in the Americas, Asia, Africa, and Europe.
RAJEEV BATRA is the S.S. Kresge Professor of Marketing at the Ross School of Business at the University of Michigan. He has researched, taught, and consulted on global branding, emerging markets, and marketing topics for 30 years.
AYSEGUL OZSOMER is an associate professor of marketing at Koç University, Istanbul, Turkey. Her research focuses on standardization-adaptation issues and performance implications, market orientation, and global brand management.
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Chattopadhyaya and Batra provide answers that ring true. This is because their analysis is neither gimmicky nor flashy but rests on time-honored marketing principles that segment markets for targeting and marshall strategic competencies. Cost leaders, like Turkey's Arcelik, capitalize on advantageous cost positions and use scale to extend their reach into developing markets. India's Mahindra and Mahindra is a great exemplar of knowledge leveragers who transfer their home market understanding to builded branded businesses in other emerging markets. Niche customizers blend manufacturing cost advantages with new R&D capabilities to build fortified positions with branded offerings. India's Godrej has implemented this strategy with household products in regional niche markets in Africa and South Asia. Finally, the global brand builders blend low cost manufactuiring and R&D capabilities with fcused innovation to build branded businesses targeting specific product-market segments. Selective acqusitions provide the new skills and resources needed to operate in these markets. HTC has built its position as the world's third largest smart phone manufacturer by executing precisely such a focused innovation strategy.
The book is easy to read but avoids the overgeneralizations that are the achiles heel of many contemporary strategy works. The authors also pick their examples carefully so that their global brand building lessons are not confounded and can be emulated by other emerging market multinationals with global aspirations. And if you are an incumbent, traditional multinational, the authors suggest how you may proactively respond to these new challengers. All in all, this is a thought provoking book, that does a marvelous job of extracting the comtemporary marketing strategy lessons from the experienced reality of business leaders who have successfully build global branded businesses when the betting was all against them.
This book is a must read for business school students and their professors. But this book's lessons will have the most impact on marketing practitioners in emerging market and traditional multinationals looking for challenger and response strategies in this new global competition. Get it, read it and then place it on your shelf or store it on your hard drive - you will consult this book often. And that's a promise!
Domestic companies' ("DMCs") metamorphoses into EMNCs (113 of Fortune Global 500 in 2010), is turning the world upside down. The ominous words (Business Week "be afraid, be very afraid" and GE Chairman Immelt et al "Siemens, . could never destroy GE; the emerging giants very well could") have proved prophetic. Apple and Samsung's fierce battle for hand phone patent portends the winds of change blowing through the global markets.
The timing of "The New Emerging Market Multinationals:..." is impeccable.
Instead of companies like Gazprom, Petrobas, etc. that rely on monopolies, the book focuses on Haier, HTC (now the world's 3rd largest smart phone company), Natura, LG, Arcelik, etc. from competitive sectors. A quote of one of their interviewees, "a brand first increases the volume and secondly improves the margins. As long ... you have a brand, you have a sustainable business" neatly sums up why the authors focus on global brands and businesses.
The erudition, scholarship and global perspective of Chattopadhyay, Batra and Ozsomer, marketing, branding and strategy experts, are reflected in the persuasive and engaging manner in which the book addresses the questions: What are the reasons they went global? What explains their success? How did they build their global businesses & brands despite limited resources? What TMNCs can learn to develop their own strategies not only to fend off these EMNCs but also to develop their own markets?
Their passion and enthusiasm for marketing & branding are evident while they dissect the phenomenon of EMNCs and destroy popular myths (opportunistic growth, risk-reduction, and learning-not the main reasons for their globalization" the authors instead state, "it is simply that they have the ambition, vision, and confidence to want to become global giants themselves")
A well researched, highly scholarly yet practical, rigorous, backed by diagrams, business models, end notes, secondary studies of published sources, the book has in depth personal interviews conducted by the authors with top the executives of 39 EMNCs in 15 emerging markets across the world.
The authors expertly weave quotes and anecdotes from their interviews in to their narrative to explain various business models and strategies (Global Brand Leader, etc.).
The book excludes Indonesia, Poland, etc. However, PwC`s Report "India may overtake China ..., with over 2,200 DMCs ..over the next 15 yrs- 2010-24" vindicates the authors somewhat skewed emphasis on India. Few floundering EMNCs may have provided interesting contrast and important lessons. Notwithstanding these, the book has great depth and breadth making it truly representative of the EMNC phenomenon.
Globalization being an imperative, DMCs should use the book "to create their own game plans on how resource limitation can be side stepped to become EMNCs". The book will prompt global CEOs of TMNCs "to find new ways to disrupt and fight EMNCs". Policy makers and trade organizations can cull lessons from this book to create conducive policies for their DMCs to turn into EMNCs. The book should prove to be a rich repertoire of case studies for academics and researchers.
Global market witnesses tectonic shifts every few decades; The East India Company followed by British, American, and Japanese in 1980s, and the latest EMNCs. "Born global" (Google, Amazon, etc.) are firmly entrenched. All these put a question mark on Napoleon's remark.
Despite several books of this genre, this easily ranks as one of the best. Anyone wanting to understand the phenomenon of EMNCs should be reading this book.
Most recent customer reviews
Four stars and well worth a read.Read more