Strategies of Market Growth Assignment Example | Topics and Well Written Essays - 750 words

Strategies of Market Growth - Assignment ExampleToday, the economies of most of these markets ar growing and expanding at a rate that easily attracts multinational companies from all across the world. Most of these emerging markets are also having genuinely favourable macroeconomic and microeconomic policies that put them at highly lucrative positions to choose in the doing of globular business. With the coming and advancement of technology also, there has been a major boost in terms of how potent and efficient business is undertake in these emerging markets. All of these favourable conditions notwithstanding, it remain a situation that with the level of development in these emerging markets, companies need much strategic approaches to make good affair of consumers in emerging markets, especially those at the bottom of the pyramid. In this paper, two key business strategies that rout out be intentiond by these companies are critically discussed. Strategies of Market Growth Go llakota (2010) identifies consumers at the bottom of the pyramid as one of the most important stakeholders of any companys supply chain, especially those in emerging markets. ... erstanding circumstances that consumers must satisfy to meet their needs, whiles the final parameter looks into the essence of what the consumer wants to accomplish (Gollakota, 2010). Generally, though, the profound equal management centres on the second paradigm, which advises the need for prices of crossings and services to be cut low to cover that those at the bottom will also have the means of responding to their needs. For the companies to do this cost cutting without runway at a loss it important that they are engaged in prudent management of drudgery cost. In the second instance, the use of deep benefit management is recommended for use. Unlike the former which focuses on cost management, this is more concerned about take to be management, where the need for companies to think of ways of addin g new features that give singular value to their products and services is recommended (Ghemawat, 2010). In most cases, what has been observed with emerging markets is that consumers at the bottom want to use their money in the most guaranteed means that they have to be very certain about value for money. In effect, even if they will have to be paying more, they would need guarantee that the same product or service from another outfit has less value than the one they are purchasing (Pelle, 2007). Meanwhile, the best way to raise the value of a product is by introducing new features that takes away cost in an indirect manner. Some of these ways include offering convenient locations, transport, or other services that are essential for BOP customers Gollakota, 2010 p. 361). Conclusion In conclusion, it will be reiterated that the need for businesses and organizations to succeed is not an movement that comes by accident, especially when reference is made to emerging markets. As