Declares that such global goliaths as Coca‐Cola and Procter & Gamble have been surprised how indigenous, local companies have speedily fought back to create competitive markets. Demonstrates three components local companies need to exploit their competitive success to advantage: unique perceived value; cultural capital; and targeting and positioning. Looks at empowerment of local firms and competitive strategies for local companies. Employs a Figure showing pressures for globalization. Concludes with four alternative strategies for local companies to defend, extend, dodge, or contend their market position: defenders; extenders; dodgers; and contenders. Sums up that perhaps globalization may not be as simple as it once seemed.
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