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Why do companies compete globally?
- 1. Gain access to new customers
- 2. Achieve lower costs and increase competitiveness
- 3. Exploit core competencies
- 4. Spread business risk
- 5. Industry leadership must be global not domestic
What are the phases of the market life cycle?
- 1. Emerging phase
- 2. Rapidly growing phase
- 3. Maturing phase
- 4. Declining phase
What are the strategic factors in the market life cycle and strategy evolution?
- 1. Competitive strategy and focus
- 2. Product strategy
- 3. Marketing strategy
- 4. Distribution channels
- 5. Supply chain
What are the strategic factors in the emerging phase?
- Competitive strategy and focus - Low cost or differentiation
- Product strategy - perfection of technology and product
- marketing strategy - awareness, then brand loyalty
- distribution channels - first mover advantage
- supply chain - partnerships to gain resources and expertise
What are the strategic factors in the Rapidly growing phase?