EXPLOIT UNDERSTANDING OF PRODUCT MARKETS

Product markets oft en turn out to be unique because customers’ needs and tastes are idiosyncratic. Local companies are the first to realize that and to build businesses around distinctive national characteristics. For instance, Jollibee Foods thrives because it realizes that Filipinos like their burgers to have a particular soy and garlic taste; Nandos is growing in South Africa by providing cooked chicken that suits local palates; and Pollo Campero is doing the same in Guatemala.

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Source:- IIPM Editorial

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