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Meet the global benchmarks in international trade promotion
Competing for the Global Middle Class
This new global middle class is particularly evident in Brazil, China, India, Indonesia, Mexico, Nigeria, Turkey, Vietnam and other countries with relatively large working populations and rapid economic growth rates.
Momentum in the Middle
The first step toward becoming a leading company for the global middle market is recognizing the pace of development in the countries where you hope to do business. They start as nascent economies and gradually evolve into mature economies. In between, there is critical stage of urbanization and economic momentum. These countries are the seedbed of the emerging middle-class markets. The authors numerate three types of corporate players jockeying for position in these markets:
Just as countries evolve overtime, so do companies. Many of today’s local upstarts will be global aspirants tomorrow; today’s global aspirants often become multinational incumbents. The differences among them appear primarily in the way they choose to compete and in the level of resources
A More Complex Market
To successfully serve middle-market customers, companies must identify which product attributes the customers in a specific market value and don’t value. Then, they must either add those attributes to or cull them from their existing products.
The developed middle markets are a huge and indispensable source of sales volume and market share can decline precipitously as local upstarts or global aspirants redouble their efforts. In most of these markets, competition is already intense. In addition, most developed middle markets are driven more by the rise and fall of macroeconomic cycles than by underlying fundamentals, such as an unusually fast-growing customer base. This means that during the stable parts of the cycle, the gains that new players make will come out of the pockets of incumbents.