Post by account_disabled on Mar 5, 2024 0:06:20 GMT -7
The that are common to each market leader Covers markets globally and locally Look at companies like Coca Cola Microsoft LG and others who are market leaders in their respective categories. You will find that each of these companies has products that are widely distributed and known throughout the world. However the marketing strategy of each product is tailored to the market they serve. So if you have a business that has many competitors it is important for you to look at market expansion along with localization. Dont back away from the global market but more importantly when serving the global market dont forget your homeland.
A simple supporting statistic for this statement is that every developing country having explored B2B Email List global markets is now looking at its own rural markets that will provide maximum growth opportunities. Expand the market Smartly Expanding just for the sake of growth can be disastrous. All strategists know that monitoring a businesss cash flow is paramount to an organizations growth. If your working capital is used for expansion this will affect even business units that are actually showing growth causing you to cut back on important plans.
Expansion is necessary for a good business but it should not come at the cost of working capital or unbalanced cash flow as both can affect your survival. Cost control Take a close look at a good companys accounts and you will find ways in place to manage costs. There is one basic equation for profit. Income minus expenses equals profit. So if you reduce your costs your expenses automatically fall thereby increasing overall profits. The important thing here is to know what the main components are in your costing. For example in product based companies Transportation The Rent Labor distribution margins etc. are some of the costs that are more expensive than the raw materials that will be used in manufacturing a product.
A simple supporting statistic for this statement is that every developing country having explored B2B Email List global markets is now looking at its own rural markets that will provide maximum growth opportunities. Expand the market Smartly Expanding just for the sake of growth can be disastrous. All strategists know that monitoring a businesss cash flow is paramount to an organizations growth. If your working capital is used for expansion this will affect even business units that are actually showing growth causing you to cut back on important plans.
Expansion is necessary for a good business but it should not come at the cost of working capital or unbalanced cash flow as both can affect your survival. Cost control Take a close look at a good companys accounts and you will find ways in place to manage costs. There is one basic equation for profit. Income minus expenses equals profit. So if you reduce your costs your expenses automatically fall thereby increasing overall profits. The important thing here is to know what the main components are in your costing. For example in product based companies Transportation The Rent Labor distribution margins etc. are some of the costs that are more expensive than the raw materials that will be used in manufacturing a product.