Global brands are market leaders for a reason. They can manage multiple markets across the globe simultaneously. One such is the consumer- packaged goods industry, worth more than a trillion dollars globally. Its key players are Colgate, Olay, Avon and Axe. Among the emerging markets, the most important ones for them have been India, China and Indonesia, followed by Brazil. But this upward trajectory is now getting challenged by several fleet- footed local players. As per marketing research collated by Accenture, the top brands have lost more than five percent in market share in these countries. One way to bridge this falling market share is to include local brands in the product mix to increase acceptability. Another is to adjust the expectations about brand lifecycles. Beyond the marketing alone, it is the ideas and business innovations that must now hold central ground.

Source:https://hbr.org/2019/02/how-global-brands-can-respond-to-local-competitors?utm_campaign=hbr&utm_source=twitter&utm_medium=social

Uploaded Date:11 May 2019