KWL Market Adaptation by Howard Roberts

hrober08 — 2024-11-12 01:39:03 UTC

Adapting to new markets is a potentially exciting and challenging task many businesses will experience as they reach the global stage and set out for new markets.

hrober08 — 2024-11-12 01:42:11 UTC

Market adaptation is a relatively new concept to me, but it is self-explanatory. I interpret it as the ability for a company or entity to make meaningful changes to what it offers customers to capitalize in new markets.

hrober08 — 2024-11-12 01:43:56 UTC

What sort of intelligence gathering is utilized by companies in order to develop a plan for emergence in a new market?

hrober08 — 2024-11-12 01:48:11 UTC

Does the planning and reconnaissance of these new markets have any parallels to the operational planning systems of intelligence or military organizations, or is it another beast entirely?

hrober08 — 2024-11-12 01:52:25 UTC

Expanding into a new market requires an awareness of tradition and culture. Simply dropping an existing, successful product into a new market cannot guarantee success, such as the case with Kraft's introduction of Oreos to China and India.

hrober08 — 2024-11-12 02:03:34 UTC

An example of this I read recently, the Autopian covered the shift from land yachts as flagship automobiles to the performance-oriented sedans developed domestically to compete with the exciting offerings of the European imports of the 1980s.

hrober08 — 2024-11-12 02:06:18 UTC

In a nutshell, European imports, specifically BMW and Mercedes-Benz, were offering exciting cars that appealed to younger Americans, rather than the large flagship models typically offered. American automakers were adapting to their own evolving domestic market to avoid being edged out by foreign competition that was gaining traction in the states.

hrober08 — 2024-11-12 02:07:02 UTC

How common is it for a company to over-adapt and lose its sense of identity?

hrober08 — 2024-11-12 02:10:30 UTC

There exists a fine line between loss of potential sales globally and loss of identity. A company must identify what makes it recognizable. McDonald's realized that it wasn't the Big Mac or the fries that customers came to recognize, but rather the appeal of fast, delicious food. A company has to look for identity not in the product, but in the concepts that consumers recognize.