Strategies options that Firms may adopt within Global Product Positioning
The three strategies alternatives include advancing the core business, advancing adjacent opportunities, and advancing through sub-segmenting customers (Alain, 2011). Identification of profitable advancement opportunities always start from the core business (Andrew & Kannan, 2006), that is, services, customers, products, geographic areas, and channels, which produce the largest percentage of profits and revenue. Benchmarking with senior leaders is the preferred beginning point. The second strategy is customer-focused development strategy dependent on the company’s existing customers (Alain, 2011). It involves developing high impact value plans or prepositions for novel customer sub-segments. The third strategy is customer-focused strategy. It involves entering businesses, which have strong strategic connections to core or main- adjacent businesses (Andrew & Kannan, 2006). It is the preferred alternative when it is apparent that the main future development potential is weak.
How Firms go about selecting Strategic options within Global Product Positioning
Firms go about selecting strategic options within global product positioning by allowing senior leaders to start the process. It is done through considering the development potential in the existing core business, or opportunities as well as development potential linked to establishing innovative value plans for underserved groups of customers. As the senior administrators explore the process, it becomes apparent if as well as when adjacent development alternatives should be considered (Alain, 2011).
Firms examples of International Product Positioning Strategies
Coca-Cola Company is the first example. The global strategies, as well as tactics of Coca-Cola Company, operate harmoniously because of careful considerations of external forces within global setting. The profitability and effectiveness of Coca-Cola Company are supported by its strong competitive position as well as market share within their primary product market. The second example is Apple Inc. Apple's strategy is developed in accordance with a combination of value service, product specification, a renowned brand as well as expected product line.
Alain, B. (2011). Global product development: proceedings of the 20th CIRP Design Conference, Ecole Centrale de Nantes, Nantes, France, 19th-21st April 2010. Berlin; Heidelberg; New York: Springer.
Andrew, C., & Kannan, R. (2006). Global strategy: creating and sustaining advantage across borders. New York: Oxford University Press.