Discipline # 01 – Surgically Target Urban Growth Clusters
The people from the rural areas move towards the urban areas which ensures the availability of the target customers in cities. In this manner, the companies are required to become adept at identifying their target customers from the diversity population so that they can attract these customers in an effective manner. The companies need to learn the purchasing behavior of the newly developed clusters in order to offer them with their products and services, which eventually helps the companies to increase their sales and generate profits.
Discipline # 03 – Devise Segmentation Strategies for Local Relevance and Global Scale
The multinational companies are required to make their products in accordance with the local preferences and buying power in order to enhance their market share at the global level. In this manner, the companies have to master the art of identifying the local preferences, local values and buying power so that companies can strategize whether to target niche market or mass market in accordance with the value that their products and services reflect.
Discipline # 04 – Radically Redeploy Resources for the Long-Term
The companies have to understand the importance of innovation by means of the research and development, product and process innovation. In this manner, the companies have to master the art of generating capital resources in order to invest and hence, the companies need to learn the insights and dynamics of mergers and acquisitions with which they can incorporate resources and become sustainable for the long-term.
Discipline # 06 – Build Brands that Resonate and Inspire Trust
The companies have to develop the trust of customers with respect to their offered products and services. The availability of the e-commerce has provided the opportunity to interact with customers and demonstrate positive brand image. The companies need to learn about the art of making the customers trust them so that the customers can incorporate the positive purchase behavior and companies can attain loyal customers.
References
Atsmon, Y., Child, P., Dobbs, R., & Narasimhan, L. (2012). Winning the $30 trillion decathlon: Going for gold in emerging markets. McKinsey Quarterly, 4, 20-35.
