BU491 Study Guide - Midterm Guide: Marketing Strategy, Revlon, Masculinity
Document Summary
Tech test answers set #2: according the article the end of corporate imperialism by prahalad and lieberthal, the authors identify a need for mncs to transform. What kind of transformation are the authors referring to and to what end. To be successful in the emerging markets, companies need to have a new way of thinking. The more the company understands the nature of the markets, the more they will have to rethink and reconfigure every element of their business models: Success in the emerging markets will require innovation and resource shifts on such a scale that life within the multinationals themselves will inevitably be transformed. Increasingly, as multinationals develop products better adapted to the emerging markets, they are finding that those markets are becoming an important source of innovation. The big emerging markets will also have a significant influence on the product development philosophy of the mncs: new product introductions will have to take into consideration non-traditional centers of influence.
