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Saturday, December 10, 2022

Will Your Competitive Advantage Work in Other Markets? | HBR

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Landscapes of Competition in the Expansion of International Technology Startups

When firms expand internationally, they often think that the competitive advantages that made them successful in their domestic markets would automatically translate to their new global markets. For instance, Sequoia’s existing brand resonated effectively with Indian entrepreneurs, requiring minimum adaptation for its entry into the Indian market. Due to the difficulty of imitating Intel’s chip design and manufacturing technologies, the company has reaped substantial profits from supplying semiconductors to Chinese consumers. Variations in the competitive environment often coincide with variations in client preferences. Consumer-appealing products in one market may be utterly meaningless in another.

A company’s desire and capacity to adapt to these variations in a new market will determine its success or failure. In certain instances, it may be able to make slight modifications to an existing strategy to bridge the gap between your home market and local circumstances.

Local rivalry and client preferences might affect your prospects of international growth success. Remember that leaving and seeking possibilities elsewhere is not always a terrible option if everything else fails.

Source: https://hbr.org/2022/06/will-your-competitive-advantage-work-in-other-markets

 

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