The China Factor

Chapter 20The West: PositioningPutting It All Together—Defining a New Target Market Mix and Penetrating Emerging Markets

Therefore, just as water retains no constant shape, so in warfare there are no constant conditions.

—Sun Tzu, The Art of War

Now that we have looked at each of the 5Ps individually and in detail, let's explore how to put all the essential components together in your sales approach for an EM customer or segment. How are you going to position your offer when you know that you are competing with new types of competitors or emerging entrants?

Every customer scenario or sales situation will be different, so apply the concepts discussed in Chapters 14 through 18 and tweak them based on the targeted segment and your in-depth knowledge of your customer, as well as your competitor's strategy. Because all of the P elements are so intertwined, each decision or modification made to one element of your strategy will affect the other elements, producing a unique marketing mix and a specific outcome or result.

The 5Ps of Global Marketing Framework

In order to reinforce the process for formulating your global expansion strategy, let's revisit the 5Ps of Global Marketing framework (Figure 20.1) and review how to apply the 5Ps. As discussed previously, the 5Ps of Global Marketing framework applies new descriptors to each of the traditional 4Ps of Marketing to reflect the evolved role each plays in the evolved global competitive arena.

• Product evolves into solution and innovation ...