What are the implications of dealing with such non-traditional competitors? Conversely, the biggest growth opportunities for many firms are in emerging marketplaces, with unfamiliar customer needs, channel structures and even institutional set-ups and political systems. What does dealing with such new and dynamic markets mean for the marketing function? Does marketing continue to be the key interface for the inflow of marketplace information and the outflow of market-informed products and solutions?
While terms such as “hyper competitive” or “fast moving” have been around for a number of years,
the speed of change—at the customer and competitor level—is accelerating at unprecedented
levels. At the customer level, this is reflected in “location-based” marketing based on mobile apps,
real-time tracking of customer behavior, and continual advancement of new, nimbler competition.
For many industries, at the heart of this change are smart products, smart applications and
interconnected devices as well as an increasing willingness of firms to develop ecosystems of
partners rather than go it alone.
In many industries, the new and nimbler competition may be from firms based in second-world or
even emerging economies. What are the implications of dealing with such non-traditional
competitors? Conversely, the biggest growth opportunities for many firms are in emerging
marketplaces, with unfamiliar customer needs, channel structures and even institutional set-ups
and political systems. What does dealing with such new and dynamic markets mean for the
information and the outflow of market-informed products and solutions?
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