What approach should smaller firms take in emerging markets?

Question

Quizplus · Accepted Answer

Smaller firms should adopt a first-mover strategy to outmaneuver larger firms eyeing the same market. This can help them establish themselves in the market and gain a competitive advantage over time. It may also help them build stronger relationships with local partners and customers, which is critical in emerging markets. Being a follower may limit the potential returns, and avoiding the market altogether is not a viable option as emerging markets offer significant growth opportunities. Merging with a local company can be an option, but it may not be feasible for all firms due to cultural and regulatory differences.

What Approach Should Smaller Firms Take in Emerging Markets