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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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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.
Top Customer Reviews
The authors stress the need to take a long-term strategic view, finding the right balance between applying one's current competitive advantages to succeed today and building long-term advantages to become a global leader in the future. The authors emphasize how, rather than just copying what their developed market counterparts do, emerging market companies can turn their contextual disadvantage into advantage by analyzing unique resources and capabilities arising from their context-specific experience. This analysis should form the basis of what their company ought to choose as its business scope and strategy globally. Also, by taking a long-term view rather than just being content with short-term gains, these companies can invest in building the right resources and capabilities to move into higher-value activities in the value chain (such as branding) rather than being destined to be underdogs forever.
The book is a must-read for both emerging market company managers looking to take on big companies is the global arena as well as for global company managers trying to figure out how to best defend against disruptive innovatiosn and business models emerging from this new breed of unfamiliar competitors!
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.
I would say this is a must-read for anyone who is interested in branding or marketing. The book goes beyond illustrating why and how new brands from emerging countries can challenge the established brands of the developed world. It also suggests how the latter can be prepared for such challenge. I really like this book.