Praise for THE NEW EMERGING-MARKET MULTINATIONALS
"This book is a real eye-opener. It will forever change your assumptions about international economic competition and who the winners will be."
—PHILIP KOTLER Kellogg School of Management and author of Winning at Innovation
"An insightful read—essential for those wishing to understand the evolution and growth of emerging-economy EMNCs and how they will reshape global market structures."
—ANAND MAHINDRA, Vice Chairman and Managing Director, Mahindra Group, India
"As this timely book so insightfully points out, the rise of emerging-market multinationals is shifting the global competitive landscape and forcing us to think hard about new growth, strategy, and talent equations. A must-read for business leaders responsible for navigating today's global environment.
—MUHTAR KENT, Chairman and Chief Executive Officer, The Coca-Cola Company
"This book offers an array of fascinating examples and an interesting framework for stimulating thinking about EMNCs' strategic options."
—PANKAJ GHEMAWAT, IESE Business School, and author of World 3.0
"A must-read. The book is well researched and provides compelling case illustrations. I highly recommend it."
—W. CHAN KIM, Professor, INSEAD; Codirector, INSEAD Blue Ocean Strategy Institute; and bestselling author of Blue Ocean Strategy
"This is the future of global competition. You need to understand it if you aspire to be a player or if global markets are now a part of your strategy."
—DAVID A. AAKER, Vice Chairman, Prophet, and bestselling author of Brand Relevance
"This book gives a clear idea of the success formula of emerging-market multinationals by showing practical insights based on a deep understanding of EMNCs. This will help readers from any type of company structure their own growth strategies."
—WONHONG CHO, Executive Vice President and Chief Marketing Officer, Hyundai Motor Company
"An excellent collection of ideas and examples that should inspire companies in emerging markets looking to build brands and markets anywhere."
—BUSINESSWORLD
About the Book:
LG. HTC. Tata. Haier. Lenovo. Arcelik. Natura.
From smartphones and computers to blue jeans and beer, companies from China, India, Taiwan, Mexico, Turkey, and other emerging markets are now winning leading market shares with their own-branded, high-quality products—rather than with poorly produced products sold under others' brand names. These emerging-market multinational companies (EMNCs) are giving the incumbent market leaders of North America, Western Europe, and Japan a run for their money in the areas of innovation, branding, and marketing.
How have these small, under-resourced businesses come so far so quickly? And what can you learn from their strategies and tactics?
Renowned experts in global branding and marketing, the authors of The New Emerging-Market Multinationals conducted an in-depth study of 39 EMNCs to reveal the innovative compete-from-below strategies and tactics fueling these companies' meteoric rise. The authors identify four strategies driving this growth:
- COST LEADERS leverage existing low-cost structures and large-scale volumes to extend their reach into developed markets.
- KNOWLEDGE LEVERAGERS tap their existing resources and knowledge of home consumers and the market to build branded businesses in other emerging markets.
- NICHE CUSTOMIZERS combine their cost advantages in manufacturing with newly developed low-cost R&D capabilities to develop customized niche-segment branded offerings in other emerging markets.
- GLOBAL BRAND BUILDERS use their low-cost manufacturing and R&D capabilities to build branded businesses in developed markets— but limit their focus to specific products and segments through a process of focused innovation.
Whether you run an EMNC or a developedmarket company, deep knowledge of the strategies outlined here is an absolute necessity for competing effectively now and in the future. Don't get caught off guard by the "new kids on the block"—because today's EMNCs are determined to be tomorrow's market leaders.
Review
"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.
