Key factors in the international market driving process: The role of internal competencies and external network actors
Lead Research Organisation:
King's College London
Department Name: Management
Abstract
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Organisations
Publications
Chidlow A
(2015)
Establishing rigor in mail-survey procedures in international business research
in Journal of World Business
Deligonul S
(2013)
Developing strategic supplier networks: An institutional perspective
in Journal of Business Research
Elg U
(2015)
Internationalization Through Sociopolitical Relationships: MNEs in India
in Long Range Planning
Elg U
(2017)
MNE microfoundations and routines for building a legitimate and sustainable position in emerging markets
in Journal of Organizational Behavior
Elg U
(2012)
Business, Society and Politics
Elg U
(2012)
Market-driving strategy implementation through global supplier relationships
in Industrial Marketing Management
Fatima Wang (Co-Author)
(2012)
Market driving capabilities and performance in global firms
Ghauri P
(2016)
Market driving strategies: Beyond localization
in Journal of Business Research
Ghauri P
(2017)
Multinational Enterprises and Sustainable Development
Ghauri P
(2011)
Developing a Market-Driving Strategy for Foreign Markets: Internal Capabilities and External Activities
in Schmalenbach Business Review
| Description | A firm's ability to implement a worldwide business concept is an area of key concern for international managers. However, the international marketing field has propounded adapting to local markets and this is also the strategy that firms believe they should adopt. The findings of the research project shows that adaptation does not have be prioritized and that through market driving behavior, it is possible to reap benefits from influencing the attitudes and behavior of the foreign market. The research also develops an in-depth understanding of the antecedents to the development of market driving strategy in global firms. Most of the existing literature focuses on describing what market driving strategy consists of. We identified networking, configuration, learning, and branding capabilities as essential to enhancing market driving behaviour. Furthermore, we show that market driving behavior can develop resource inimitability and non-substitutability in foreign markets and ultimately lead to better performance. |
| Exploitation Route | The project developed a new thinking in marketing that takes existing theory of market orientation a step further and at present several other researchers are working on this. The findings can be used by firms entering foreign markets. The findings show that rather than simply adapting to the market, the strategy can be to influence the market. In this way, firms can better capitalize on a global strategy. |
| Sectors | Agriculture, Food and Drink,Communities and Social Services/Policy,Construction,Creative Economy,Digital/Communication/Information Technologies (including Software),Education,Electronics,Energy,Environment,Manufacturing, including Industrial Biotechology,Pharmaceuticals and Medical Biotechnology,Retail,Transport,Other |
| Description | There are policy implications and guidelines for the companies. Now stakeholders have better unerstanding. |
| First Year Of Impact | 2014 |
| Sector | Agriculture, Food and Drink,Chemicals,Construction,Education,Financial Services, and Management Consultancy,Manufacturing, including Industrial Biotechology,Retail |
| Impact Types | Societal,Economic,Policy & public services |
| Description | Meeting with AXIS |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Professional Practitioners |
| Results and Impact | A market driving strategy tries to change established rules in the marketplace and thus, for hi-tech firms such as AXIS, our findings were of particular interest. We shared information on what capabilities market-driving strategy must be based on and discussed how to make the strategy successful. The managers showed a keen interest in the project and asked many questions. The meeting led to agreement on further research collaboration. |
| Year(s) Of Engagement Activity | 2014 |
| Description | Meeting with Tetra Pak |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Professional Practitioners |
| Results and Impact | We discussed with Tetra Pak the market driving concept and shared initial findings of the project with top managers. After the meeting, we were requested to provide further information on the project and we were invited to carry out further research on how Tetra Pak can better implement the market driving concepts in its foreign markets. |
| Year(s) Of Engagement Activity | Pre-2006,2014 |
| Description | Meetings with IKEA |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Professional Practitioners |
| Results and Impact | We had several meetings with IKEA about market-driving firms' ability to have a higher degree of networking capability than other firms, in terms of both micro- and macro-level matching. We discussed the managerial contributions of our study and presented some of the results. During these meetings, IKEA also shared information with us on their views of market driving and how they have implemented this concept in their foreign business operations. |
| Year(s) Of Engagement Activity | 2014 |