The fast development of previously less developed countries in East Asia and Latin America also means higher disposable income which the customers can spend on durable goods like automobile. Recognising the wider market and huge profit potential from these transformations, players in the global automobile manufacturing industry opted to pursue globalisation strategies. They have expanded beyond their local markets to serve and cater to the needs of customers abroad.
Thus, the current global automobile manufacturing industry is currently comprised of large players going beyond their traditional markets to foreign markets with the prospects of larger market, higher revenue, and higher profit. With the players' decision to pursue internationalisation, they face important decisions about their product offerings and strategies. It should be noted that as industry players seek foreign markets, they are actually exposing themselves to an entirely different set of customers who can have different preferences and expectations about their products. ...Show more