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The BoP markets are a hotbed for innovation and companies that are able to mold their business models to fit within this paradigm can truly alter traditional business models. Common marketing theories from the 4Ps to the 5Cs have failed when trying to engage the BoP. Many companies have derived BoP strategies from C.K.
For example, GE developed an ultra-low-cost ultrasound for rural China which is now marketed in over 100 countries. Logitech developed an affordable mouse for the China market which sells for (the Chinese equivalent of) $19.99 Phase 2: Glocalization. and which they now sell in Europe and the U.S.
With increasing heterogeneity in every market and global exposure just one tweet away, all brands, even local ones, must begin to think globally or suffer the consequences. Though the ad never aired in China, the use of Gere, a pro-Tibet activist, outraged Chinese consumers and caused Fiat to lose traction in the booming Chinese auto market.
market share of more than 80%, with Schick a distant second. But that is not the story in developing markets, where these top-of-the-line products don't fare nearly as well. So how is it that Gillette has over 50% market share in India — the world's largest shaving blade market by volume?
The impact of “social entrepreneurs” — individuals who deploy innovation and market forces to fill social needs — is growing. Vincent Tsui for HBR. But there is plenty of potential left to unlock. What do these enterprises need to scale up? And how can they do it? Fair enough.
Both parties are to this extent "glocal" — global and local. Marketing once specialized in advertising and packaging that was identical everywhere. How will it change various goods and services, produce categories, promotion, marketing, and so on? The local trend is evident across American culture. Where did it come from?
One solution to this tension is to pursue what we call glocal advertising strategy — locally adapting a universally embraced core idea that will resonate in any market anywhere in the world.". The key question for global brands is, "How can marketers pull it off consistently?". Advertising Marketing'
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