Question

List and discuss three strategy options for competing in emerging markets.

Answer 1

Following are the three strategy options for competing in emerging markets are:

1) In the emerging market, Companies have to prepare to compete with the other companies on the basis of low price - In the fast-growing world, many of the companies is entering in market. Which can increase the competition in the market. Also, market is emerging day by day. So, companies must have to decrease their price. So, that they can survive and compete with the other competitors in the market.

2) Modify the business strategy and business model - By modifying the business model and adopting the new business strategy will helpful for the companies. As market is emerging, company have to change or modify their business strategy. So, that they can attract the new customer base and give a tough competition in the market to other companies.

3) Try to change the market - By adopting this strategy, you can decrease the competition in the market as new market will help you to more promote your products. Like after launching the smartphones. Telephone market is going down. So, company have to tried to change the market. So, that emerging market and competition get decrease.